Stocks witness flat as major sectors plunge
Economic Reporter :
Stock markets on Tuesday witnessed flat due to lower activities of large-cap securities.
The falling major sectors were textile and cement. A total of 178 securities of the large-cap group moved down due to lower activities. Stocks kept their losing streak with daily trade turnover on the prime bourse dipped to 14 months low on the day, as investors were mostly reluctant to make fresh investment in stocks.
Market analysts said lack of investors' confidence coupled with liquidity crunch, taking toll on stock prices.
Turnover, a crucial indicator of the market, stood at Tk 2.511 billion on the country's premier bourse, slumping further by 18 per cent over previous day's mark of Tk 3.05 billion. It was the lowest single-day transaction since March 25, 2018, when the turnover totaled a record Tk 2.24 billion.
The market opened on positive note and the key index of the major bourse rose about 15 points within first hour of trading. But late hours selling pressure wiped out all the early gains.