Stocks end lower

Stocks returned to the red yesterday after a day's gaining streak as investors lost confidence.

The benchmark General Index -- DGEN -- of Dhaka Stock Exchange closed at 5,960, after declining 94.43 points or 1.56 percent. DGEN gained 2.2 percent on Tuesday.

“Investors want to know a clear position from the Bangladesh Bank on single party exposure,” said Akter H Sannamat, chartered accountant and market analyst.

Some institutional investors also wait for a clear stance from the central bank, he said.

He said stability will come if the central bank clears its position on single-party exposure to the investors as early as possible.

On Tuesday, the securities regulator assured the investors that the central bank will increase the adjustment period of single-party exposure limit from December 31 in a bid to enhance credit flow in the market.

Ahasanul Islam, senior vice president of DSE, said investors should go for new investment considering the companies fundamentals instead of index.

Turnover on the DSE floor stood at Tk 379 crore, which was 5.4 percent higher on the previous day.

Of the total 257 issues traded on the DSE floor, 25 advanced and 225 declined. Seven securities remained unchanged.

Beximco topped the turnover leaders with 7.76 lakh shares worth 11.98 crore changing hands.

Source: Daily Star