BBN file photo

Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the losing streak for the seven straight sessions on Sunday as worried investors continued to dump their holdings, fearing further fall of share price.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 70.31 points or 1.56 percent to settle at 4,409.

Analysts said the investors kept their selling spree on major stocks fearing possible impact of the single-digit interest rate on the banking business as well as overall economy.

A section of the investors were also disappointed to see no visible progress in the formation of a special fund for the stock market even after two weeks granted the permission, said an analyst.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 17.69 points to close at 1,474 and the DSES (Shariah) index shed 16.22 points to settle at 1,028.

Turnover, an important indicator of the market, stood at BDT 4.56 billion on the country’s premier bourse, falling further by 19 per cent over the previous day’s turnover of BDT 5.61 billion.

Losers took a strong lead over the gainers, as out of 355 issues traded, 289 closed lower, 46 ended higher and 20 remained unchanged on the DSE trading floor.

VFS Thread Dyeing topped the turnover chart with shares worth BDT 138 million changing hands, closely followed by Far Chemical, Square Pharma, LafargeHoilcim and Confidence Cement.

The Chittagong Stock Exchange also kept the losing streak with its All Shares Price Index (CASPI)—slumping by 223 points to close at 13,519 and the Selective Categories Index – CSCX –losing 135 points to finish at 8,197.

The port city bourse traded 8.76 million shares and mutual fund units worth BDT 157 million in turnover.