Dhaka stocks slip for 2nd consecutive day

The benchmark index of the Dhaka Stock Exchange (DSE) kept falling for the second consecutive day today.

Though stocks saw an upward movement in the early hours of trading, major indices ended lower at the close of the trading session.

The DSEX went down 54.64 points, or 0.97 percent, to end the day at 5,578.97 points, the lowest in 35 months.

Similarly, the DSES, the index that represents Shariah-based companies, declined 6.16 points, or 0.50 percent, to 1,229.57.

However, the DS30, which comprises blue-chip stocks -- a group of 30 renowned companies -- increased 4.25 points, or 0.21 percent, to 1,984.68.

Turnover, which indicates the volume of shares traded during the session, increased 0.87 percent to Tk 602 crore compared to that of the previous day.

Information technology is the only sector to close on a positive note while non-bank financial institutions, general insurance and life insurance sectors closed in the negative territory, according to a daily market update of UCB Stock Brokerage.

The pharmaceutical sector dominated the turnover chart covering 21.46 percent of the total turnover of the market.

Of the issues traded on the DSE, 79 edged up, 274 declined and 41 did not see any fluctuation.