Stocks extend losses for 2nd consecutive session

The country's capital market extended its downward trend for the second consecutive session on Sunday as investors remained cautious amid ongoing earnings and dividend declarations and uncertainty over the market's near-term direction.

The broad index of the Dhaka Stock Exchange (DSE), DSEX, fell 10.5 points to settle at 5,423 points, down from 5,433 points in the previous trading session.

The market witnessed persistent selling pressure from the beginning of the session as investors booked profits following bargain hunting in the preceding sessions. Intermittent buying support failed to sustain a recovery, leaving the benchmark index in negative territory at the close.

Trading activity remained relatively subdued ahead of the extended Durga Puja holidays. However, the market turnover increased 15.2 per cent to Taka 370 crore from Taka 320 crore in the previous session. 
Textile stocks accounted for the highest share of turnover at 23 per cent, followed by general insurance at 14.4 per cent and pharmaceuticals at 10.3 per cent.

Of the 395 issues traded on the DSE, prices of 99 advanced, 215 declined and 81 remained unchanged.

Meanwhile, the Chittagong Stock Exchange (CSE) also closed in negative territory. Its Selective Categories' Index (CSCX) and All Share Price Index (CASPI) declined by 20.8 points and 36.1 points, respectively.�"BSS