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Stocks slip for second day

Star Business Report
Stocks plunged for a second day amid liquidity dearth and vacillation.
The benchmark General Index, DGEN, the yardstick of Dhaka Stock Exchange, closed at 5,851, after falling 28 points or 0.47 percent.
Stockbrokers said the topsyturvy trading curve showed that 'no confidence' among the investors was the major problem in the market.
“The index wavered as if buyers were exhausted and the dearth of liquidity has become the main scourge of the market,” LankaBangla Securities said in its market analysis.
The market started off on a positive
mutual fund units on a value of Tk 319 crore changed hands on the floor.
Of the traded issues on the DSE, 148 declined and 90 advanced. Twenty securities remained unchanged.
Lafarge Surma Cement topped the turnover leaders with 2.59 lakh shares worth Tk 16.16 crore changing hands.
note, but failed to sustain it as selling pressure pulled down the market.
“The volatile situation throughout the day was an indication of confusion that still lurks in the capital market,” Green Delta Securities said.
However, it said experts believe that if the turnover increases in the upcoming days, the indices are likely to be stabilised.
Activities were significantly down on the bourse where turnover, volume and trade plunged 37.65 percent, 38.14 percent and 31.92 percent respectively.
More than 3.43 crore shares and
Pharma Aid was the biggest gainer of the day as it posted almost 5 percent rise. Grameen Mutual Fund One: Scheme Two was the worst loser, slumping 4.09 percent.
The Chittagong Stock Exchange also declined yesterday with the Selective Categories Index, CSCX, closing at 10,614, after declining 48 points or 0.45 percent.
More than 63.72 lakh shares and mutual fund units worth Tk 46.65 crore traded on the port city bourse. Losers beat advancers 116 to 56. Eight securities remained unchanged.