Stocks continue to bleed

Stocks continue to bleed

Dhaka stocks continued to bleed to its two and half years’ low today due to the confidence crisis among the investors.

The benchmark index of Dhaka Stock Exchange -- DSEX -- lost 75.78 points to 4,933.17 today.

Market insiders said the investors have been suffering from confidence crisis which came from the liquidity crunch in the banking sector, tussle between Grammenphone and the telecom regulator, and huge share selling from the foreign investors.

The fall of the index under 5,000 mark mounted the crisis among them, insiders added.

United Power Generation was the top negative contributor to the index today which snatched 13 points alone from the prime index of the DSE.

All the large cap sectors showed negative movements. Of the sectors, fuel and power sector exhibited highest negative movement with 3.27 percent loss.

Turnover, however, rose 23.43 percent to Tk 502.42 crore.

National Tubes topped the turnover list with share trading of Tk 26.88 crore.