Stock turnover slumps below Tk 5b-mark

Business Report :
Stocks plummeted on Thursday with turnover falling below Tk 5 billion-mark as investors were in the selling mood, fearing a further fall.
Following the previous day’s modest rise, the market started on a negative note, which continued till the end of the session with no sign of reversal, finally giving up the points what it earned the day before.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), slid 13.13 points to settle at 6,329, after gaining nearly 14 points in the previous day.
The DS30 Index, which consists of blue-chip companies, also shed 8.43 points to 2,152 and the DSES index, which represents Shariah-based companies, lost 2.90 points to 1,373.
Turnover, a crucial indicator of the market, also fell to a fresh eight-week low to Tk 4.85 billion, a 24 per cent lower over the previous day’s tally of Tk 6.39 billion.

Most of the investors are still on the sidelines amidst fear of a potential resurgence of political movements ahead of the national election, market operators said.
Delta Life Insurance was the most-traded stock, with shares worth Tk 211 million changing hands, closely followed by Fu-Wang Food, Sea Pearl Beach Resorts, JMI Hospital Requisite Manufacturing and Bangladesh Shipping Corporation.