Stocks slip into red after bumpy ride

Stocks slipped back into the red on Sunday, after a single-session break, as investors booked profits with cautious positioning.

Analysts said the market finished nearly flat as a section of investors continued on selling binge while some others were busy rebalancing portfolio amid ongoing earnings declarations.

The market opened on upward trend and the key index of the major bourse rose about 32 points within first hour of trading. But late hours selling pressure wiped out all the early gains.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,273 points, losing 1.90 points or 0.03 per cent over the previous session.

Two other induces also edged lower. The DS30 index, comprising blue chips, fell 4.86 points to finish at 1,846 and the DSE Shariah Index shed 1.28 points to close at 1,219.

Turnover, another important indicator of the market, also fell to Tk 3.58 billion, which was 4.78 per cent lower than the previous day’s turnover of Tk 3.76 billion.

The gainers, however, took a modest lead over the losers as out of 347 issues traded, 153 advanced, 150 declined and 44 issues remained unchanged on the DSE trading floor.

A total number of 98,747 trades were executed in the day’s trading session with trading volume of 126.85 million securities.

The market capitalisation of the DSE stood at Tk 3,882 billion on Sunday, from Tk 3,885 billion in the previous session.

Fortune Shoes topped the turnover chart again with 5.25 million shares worth nearly Tk 202 million changing hands.

The other turnover leaders were Bangladesh Shipping Corporation, Power Grid Company, Esquire Knit Composite and Oimex Electrode.

RN Spinning Mills was the day’s best performer, posting a gain of 10 per cent while Dulamia Cotton was as the worst loser, losing 9.85 per cent.

The port city bourse, Chittagong Stock Exchange, also ended marginally lower with its CSE All Share Price Index – CASPI –shedding 12 points to settle at 16,173 points and the Selective Categories Index - CSCX –losing 8.0 points to finish at 9,792.

Here too, the gainers beat losers, as 114 issues closed higher, 95 ended lower and 18 remained unchanged on the CSE.

The port city bourse traded 8.60 million shares and mutual fund units worth nearly Tk 229 million in turnover.

[email protected]