Stocks slide down for second consecutive day

Stocks continued to slide down for the second consecutive session on Monday (30 January). 

In continuation of the previous session's bearish mode, DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), started to inch down in the morning.

Buyers' active efforts over an hour till 12.07 pm helped a partial recovery, but sellers pushed it further down during the closing bell.

DSEX closed 0.15% lower at 6,278 on Monday, following the 0.13% decline on Sunday (29 January). 

Blue-chip index DS30 fell by 0.24% to 2,225, following its outperformance in the previous session.

Stockbrokers said, 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.

32 scrips advanced and 135 declined in the DSE on Monday.

Meanwhile, DSE turnover increased to Tk509 crore in the bearish day, which was Tk489 crore in the previous session.