Stocks down amid low turnover

Dhaka-Chattogram stocks on Monday faced selloff pressure as cautious investors opted for some cash during the rising interest environment when stock market remained volatile.

The benchmark index DSEX of the Dhaka Stock Exchange (DSE) fell by 0.07% to close at 6,337, while the blue-chip index DS30 lost 5 points to 2,166 on Monday.

CSCX, the broad-based index of the Chittagong Stock Exchange (CSE) fell by 0.07% to 11,190 while turnover in the port city bourse dropped 44% to Tk8.67 crore.

Analysts said some of the risk averse investors were looking for a secured return from a portion of their capital through parking it in fixed income instruments as the money market was offering roughly 100 basis points higher interest in July.

Meanwhile, the Dhaka bourse observed a decrease in participation as total turnover fell by 15% to Tk633 crore.

Due to the investors selling off, 102 scrips declined, where 69 advanced and 186 remained unchanged.

Meanwhile, despite the downward trend at the DSE, non-life insurance shares witnessed a sharp rally resulting in eight companies being placed on the daily to ten gainer list.

Besides, investors took profit from those shares which increased in the last several days. That is why, these shares were the top looser at the DSE.