DSE slides for third consecutive day

Stocks continued to slide down for the third consecutive session on Tuesday (31 January) despite the International Monetary Fund (IMF) approving Bangladesh a loan of $4.7 billion.

Trading started with selling pressure and the trend persisted the whole day as the cautious investors triggered some profit bookings.

Today, DSEX hit 11.78 and settled at 6267.05 points. The figure was 6278.84 in the previous trading session.  

Meanwhile, the blue-chip index DS30 fell by 0.28% to 2,219, following its outperformance in the previous session.

Stockbrokers said that dismal corporate earnings amid the macroeconomic discomforts were the main reason behind investors' caution that triggered some profit booking.

Also, month-end adjustments and rebalancing in institutional portfolios amid the caution across the board played a role in the slowed-down momentum in the market, they added.

Market insiders said that a big portion of investors could not transact due to their funds being stuck as a number of companies are in floor price. 

They cannot change their stock lack of buyers.

However, DSE turnover increased by 12.49% to Tk573.10 crore in the bearish day. The figure was Tk509 crore in the previous session.  

Out of the 327 issues traded today, 32 advanced, 135 dropped, and 161 remained unchanged.