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DSE, CSE extend losses for fourth straight session

FE Online Report | Published: September 02, 2019 15:37:58 | Updated: September 03, 2019 12:04:13


Stocks witnessed yet another bearish session on Monday, extending the losing streak for the fourth straight session, as cautious investors continued their selling binge on large-cap stocks.

DSEX, prime index of Dhaka Stock Exchange (DSE), went down by 37.14 points or 0.73 per cent to settle at more than one-month low at 5,033.

Market analysts said lack of investors’ confidence, telecom regulator’s strict stance towards Grameenphone (GP), soaring non-performing loans coupled with falling foreign portfolio investment triggered further selling pressure.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell sharply by 16.42 points to finish at 1,775 and the DSE Shariah Index lost 5.96 points to close at Tk 1,172.

Turnover, a crucial indicator of the market, rose to Tk 4.43 billion, which was 37 per cent higher than the previous day’s Tk 3.23 billion.

Losers took a strong lead over the gainers as out of 354 issues traded, 209 closed lower, 100 ended higher and 45 remained unchanged on the DSE trading floor.

Monno Ceramic Industries topped the turnover chart with shares worth Tk 337 million changing hands, followed by United Power, Stylecraft, JMI Syringes and IT Consultants.

Intech Ltd was the day’s best performer, posting a gain of 9.96 per cent while Sugar Mills was the day’s worst loser, plunging by 8.78 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also closed lower with its All Shares Price Index (CAPSI) -- CASPI-- losing 87 points to close at 15,412 and the Selective Categories Index - CSCX – shedding 55 points to finish at 9,355.

Here too, losers beat the gainers as 153 issues closed lower, 63 higher and 31 remained unchanged on the CSE.

The port city bourse traded 4.74 million shares and mutual fund units worth nearly Tk 143 million in turnover.

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