Business Report :
The Dhaka Stock Exchange’s (DSE) benchmark index, DSEX, experienced a continuous decline over three consecutive sessions following the central bank’s tightening of the money market, dealing a fresh blow to investor sentiment.
The DSEX fell by 29 points on Thursday to settle at 5,661. In the last three sessions, the DSEX lost a total of 66 points and the market capitalisation fell by over Tk6,000 crore, closing at Tk7.07 lakh crore.
EBL Securities said in its daily market review, the premier bourse of the country extended its downbeat vibe as investor sentiment observed a fresh blow amidst emerging external challenges arising from tightened money market conditions following the latest directives from the central bank that hampered the market’s recovery from its prolonged depressed state.
Sellers ended up on the dominant side despite the market being flat until mid-session with active participation from both sides of the trading fence, while sell pressures piled up in the latter half of the session as risk-averse investors preferred to liquidate their holdings amidst concerns over the market outlook, it added.
Saiful Islam, president of the DSE Brokers Association of Bangladesh, told The Business Standard that the market is currently grappling with a liquidity crisis.
He expressed concern that the heightened policy rate would elevate the cost of funds, presenting a significant challenge for the stock market.
