Stocks extend loss for third straight day

FE Online Report | Published: November 04, 2018 16:41:37 | Updated: November 05, 2018 20:43:01

Stocks witnessed moderate correction on Sunday, extending the losing streak for the third straight session, amid poor earnings and dividend declarations.

Market operators said lower than expected dividend and quarterly earnings declarations of some of the companies made investors frustrated.

The market started on positive note but later on the investors started selling shares which continued till end, eventually ended more than 19 points lower.

DSEX, the prime index of the Dhaka Stock Exchange, went down by 19.48 points or 0.37 per cent, closing the day at 5,238.

Two other indices—the DS30 index and the DSE Shariah Index (DSES)–also closed lower.

The DS30 index, comprising blue chips, fell 12.69 points to finish at 1,852 and the DSE Shariah Index lost 4.66 points to close at 1,211.

Turnover, another important indicator of the market, stood at Tk 5.39 billion, which was nearly 1.70 per cent higher than the previous day’s turnover of Tk 5.30 billion.

Of the traded issues, 159 declined, 142 advanced and 34 securities closed unchanged on the premier bourse.

A total number of 141,410 trades were executed in the day’s trading session on the DSE with trading volume of 143.39 million securities.

The market capitalisation of the DSE also fell to Tk 3,814 billion on the day which was Tk 3,831 billion in the previous session.

Khulna Power Company dominated the DSE turnover chart with 3.41 million shares worth Tk 361 million changing hands.

The other turnover leaders were United Power, BBS Cables, Intraco Refueling Station and Nurani Dyeing.

Bashundhara Paper Mills was the day’s best performer, posting a gain of 10 per cent while Regent Textile was the worst loser, losing 11.64 per cent following its poor dividend declaration.

The port city bourse, the Chittagong Stock Exchange (CSE), also ended lower with its CSE All Share Price Index–CASPI–losing 72 points to settle at 16,089 and the Selective Categories Index - CSCX –shedding 48 points to finish at 9,747.

The gainers beat losers as 122 issues closed higher, 96 ended lower, with 23 issues remaining unchanged on the CSE. 

The port city bourse traded 8.80 million shares and mutual fund units worth Tk 260 million in turnover.

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