DSE key index slumps 78pts in four days

Business Repot :
Stocks suffered losses for the fourth straight session on Wednesday as the risk-averse investors continued their sell-off ahead of the monetary policy statement and Eid festival.
The Bangladesh Bank is set to unveil its monetary policy statement on June 18.

Many investors followed a cautious move ahead of the monetary policy announcement while some cash in on stocks ahead of Eid-ul-Azha, market insiders say.
Although the market showed a positive trend initially, the indices failed to keep the momentum after the mid-session due to heavy sale pressure on small-cap stocks.
DSEX, the prime index of the Dhaka Stock Exchange, finally went down by 24.15 points to settle at 6,274. The DSEX lost 78 points in the past four trading days.
Market operators said despite the market being afloat until mid-session, the subsequent dominant sell pressure from cautious investors led the market to dip into the red further.
Many investors weigh monetary policy to assess possible liquidity flow in the market to decide whether to inject fresh funds.

Also, some are closely eyeing on the draft income tax bill 2023 that was placed in the parliament on June 8, before making any fresh investment in the market.
Turnover, a crucial indicator of the market, stood at Tk 7.23 billion on the country’s premier bourse, rising 8 per cent over the previous day.