DSE, CSE give up initial gains

Stocks gave up their earlier gains to turn lower, extending the losing streak for the sixth straight sessions, on Monday as investors continued their selling spree on sector specific stocks.

The market opened on upward trend and the key index of the major bourse rose around 36 points within first hour of trading.

However, the rest of the session fell steadily, finally DSE core index lost more than 3.0 points and CSE All Share Price Index fell 29 points at closing.

DSEX, the benchmark index of the Dhaka Stock Exchange, settled at 5,313, losing 3.25 points or 0.06 per cent over the previous day.

However, the two other indices closed marginally higher. The DS30 index, comprising blue chips, advanced 7.55 points to settle at 1,973 and the DSE Shariah Index gained 6.84 points to close at 1,235.

Turnover, the most important indicator of the market, came down to Tk 4.02 billion, which was 5.42 per cent lower than the previous session’s Tk 4.25 billion.

The losers took a strong lead over the gainers as out of 336 issues traded, 184 declined, 100 advanced and 52 issues remained unchanged on the DSE trading floor.

Alif Industries topped the DSE turnover chart with shares worth Tk 276 million changing hands, closely followed by Berger Paints, Nahee Aluminum Composite Panel, Intraco Refueling Station and Square Pharmaceuticals.

BD Autocars was the day’s highest gainer, posting a gain of 9.98 per cent while SEML Lecture Equity Management Fund was the day’s worst loser, losing 7.14 per cent.

The port city bourse CSE also ended lower with its CSE All Share Price Index – CASPI - losing 29 points to settle at 16,392 and the Selective Categories Index - CSCX – shedding 16 points to finish at 9,916 points.

Here too, losers beat gainers as 126 issues closed lower while 62 ended higher, with 33 issues remained unchanged on the CSE.

The port city bourse traded 4.33 million shares and mutual fund units worth more than Tk 161 million in turnover.

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