Stocks open lower, losing streak continues
Following four consecutive weeks of decline owing to the lack of confidence among investors, Dhaka stocks nosedived at the opening on Sunday.
DSEX, the broad-based index of the Dhaka Stock Exchange, sunk below 6,200 points for the first time since 10 January.
At 11.45 am, the benchmark drops 21 points or 0.35% to 6,183.
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Market insiders said that the investors are in a panic mode as the market continues to fall further. They cannot change their items due to a lack of buyers and floor prices. Therefore, they are losing day by day, they added.
The Dhaka Stock Exchange registered over Tk85 crore turnover during the period, even slower than it was in the previous session.
Sea Pearl Beach Resort, Genex Infosys, Al-Haj Textile Mills, Bangladesh Shipping Corporation, Aamra networks, Orion Pharma, Eastern Housing, and Shinepukur Ceramics are riding on the turnover list.
Meanwhile, only six stocks managed to withstand the storm while 146 declined and 115 remained unchanged.
Alhaj Textile Mills gained 7.31% among the firms while Republic Insurance gained 2.59%, and Libra Infusions 2.21%.
State-owned Bangladesh Shipping Corporation's (BSC) earnings per share (EPS) rose by 12% in the October-December quarter of FY2022-23, however, its share price comes down by 0.45% to 131.80.
