Stocks extend losses for fifth day amid rising political tension

FE Online Report | Published: November 06, 2018 15:44:39 | Updated: November 19, 2018 15:29:26

Stocks extended the losing streak for the five consecutive sessions on Tuesday as cautious investors continued their selling binge on sector-wise issues amid political tension.

Market operators said political tension catering national election coupled with lower than expected earnings disclosures by a number of companies dampened investors’ confidence.

The market started on positive note and the key index rose more than 15 points within first 20 minutes of trading. But rest of the session went down steadily, finally ended more than 20 points lower.

DSEX, the prime index of the Dhaka Stock Exchange, went down by 20.58 points or 0.39 per cent, closing the day at 5,204.

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

The DS30 index, comprising blue chips, fell 5.32 points to finish at 1,842 and the DSE Shariah Index lost 4.29 points to close at 1,200.

Turnover, another important indicator of the market, also dipped below Tk 5.0 billion-mark and amounted to Tk 4.40 billion, which was 18 per cent lower than the previous day’s Tk 5.38 billion.

Of the traded issues, 214 closed lower, 79 advanced and 46 securities closed unchanged on the premier bourse.

A total number of 115,786 trades were executed in the day’s trading session on the DSE with trading volume of 105.14 million securities.

The market capitalisation of the DSE also fell to Tk 3,788 billion on the day which was Tk 3,797 billion in the previous session.

Khulna Power Company continued to dominate the DSE turnover chart with 4.92 million shares worth Tk 475 million changing hands.

The other turnover leaders were VFS Thread Dyeing, SK Trims Indutsries, United Power and Pharma Aids.

VFS Thread Dyeing was the day’s best performer, posting a gain of 9.98 per cent while Savar Refractories was the worst loser, losing 8.11 per cent.

The Chittagong Stock Exchange (CSE) also ended lower with its CSE All Share Price Index–CASPI–losing 51 points to settle at 15,979 and the Selective Categories Index - CSCX –shedding 31 points to finish at 9,680.

The losers beat gainers as 157 issues closed lower, 66 ended higher, with 32 issues remaining unchanged on the CSE.

The port city bourse traded 5.99 million shares and mutual fund units worth Tk 169 million in turnover.

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