Stocks slip for 5 consecutive days

Stocks continued to suffer massively for the five consecutive days which brings down the prime index of the Dhaka Stock Exchange close to the 5,000 mark.

Market analysts said if it slips below the mark it may have a psychological impact on the investors’ mind and they might panic sell.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), declined 26.48 points, or 0.52 per cent, finishing the day at 5,007.05. The index has lost 172 points in the last five trading days.

The analysts said the index has been falling due to confidence crisis, claims of unpaid dues of heavyweight Grameenphone that led the investors to sell-off, and the ongoing liquidity crunch.

Turnover, another important indicator of the market, also dropped 10.87 per cent to Tk 394.82 crore.

Of the traded issues, 109 advanced and 169 declined with 61 securities closing unchanged on the premier bourse.

Grameenphone was the top negative contributor to the index that snatched 19.12 points from the DSEX alone.