Stocks nosedive as risk-averse investors opt out 

Risk-averse investors on Monday preferred to stay away from the market volatility prevailing over the past five consecutive sessions. 

Their selling spree to liquidate some positions sharply pushed the stock prices down after the first hour of trading in the bourses of Dhaka and Chattogram. 

At the end of the session, only 64 scrips survived the selling spree, while 272 declined, and 44 remained unchanged in the Dhaka Stock Exchange (DSE). 

DSEX, the prime index of the capital city bourse, plummeted by 28.8 points or 0.4% to close at 7,060. 

However, bargain hunters were active on selective stocks over the session to pick their preferred ones at a declining price, helping the blue-chip index DS30 and Shariah index DSES to end the day with lesser fall. 

Investors were cautious ahead of the earnings and dividend declarations by financial services firms and some other multinational firms which do not close their financial year in June, according to the daily market commentary of EBL Securities. 

Trading activities were a bit sluggish and total turnover in the DSE slightly decreased by 2.7% to Tk1,242 crore on Monday. 

Pharmaceuticals, banks, and miscellaneous sectors made the largest contributions to the daily turnover. 

Most sectors faced a decline in their respective market capitalisations. 

Ceramic, paper, and general insurance led the correction table, while tannery, IT, and travel-leisure sectors led the price appreciation table. 

Indices at the Chittagong Stock Exchange also closed lower on Monday, while daily turnover increased to Tk65.5 crore from Tk57.6 crore.