Stocks extend losing streak amid choppy trading

DSE daily turnover dips below Tk 4.0b

FE Online Report | Published: May 08, 2019 17:34:07 | Updated: May 20, 2019 11:11:07

Stocks witnessed yet another bearish session on Wednesday, extending the losing streak for the third day, as investors continued their selling spree.

Market analysts said stocks fell further as most of the investors preferred booking profit on sector-wise shares amid disappointing earnings a number of the companies.

The market opened on positive note and the key index rose about 10 points after that it went down steadily.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange, went down by 17.61 points or 0.33 per cent to settle at 5,272.

DSEX eroded 122 points within three consecutive sessions after recovering 219 points in the previous three days.

Two other indices also maintained the downward trend. The DS30 index, comprising blue chips, fell 3.77 points to finish at 1,858 and the DSE Shariah Index lost 4.49 points to close at 1,217.

Turnover, another important indicator of the market, also fell sharply by 31 per cent to Tk 3.31 billion, from Tk 4.33 billion in the previous day.

The losers took a strong lead over the gainers as out of 343 issues traded, 206 declined, 85 advanced and 52 issues remained unchanged on the DSE trading floor.

A total number of 90,636 trades were executed in the day’s trading session with trading volume of 95.27 million securities.

The market capitalisation of the DSE also fell to Tk 3,884 billion on Wednesday, from Tk 3,893 billion in the previous day.

Fortune Shoes topped the turnover chart again with 8.32 million shares worth Tk 317 million changing hands.

The other turnover leaders were Monno Ceramic, Esquire Knit Composite, Indo-Bangla Pharma and Power Grid Company.

Standard Ceramic was the day’s best performer, posting a gain of 6.98 per cent while Central Pharmaceuticals was as the worst loser, losing 9.79 per cent.

The port city bourse, Chittagong Stock Exchange, also ended lower with its CSE All Share Price Index – CASPI –shedding 21 points to settle at 16,209 points and the Selective Categories Index - CSCX –losing 10 points to finish at 9,815.

Here too, the losers beat gainers, as 136 issues closed lower, 57 ended higher and 31 remained unchanged on the CSE.

The port city bourse traded 5.57 million shares and mutual fund units worth Tk 162 million in turnover.


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