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Stocks slip into red as major shares slump

FE Online Report | Published: September 09, 2019 16:53:24 | Updated: September 09, 2019 19:14:06


Stocks slipped into the red on Monday, snapping a two-day gaining streak, as risk-averse investors went on selling binge on major sectors shares.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 24.83 points or 0.49 per cent over the previous session to close at 5,008.

Three heavyweight five stocks – United Power, BATBC, Khulna Power, BRAC Bank and National Life Insurance led the day’s slump, contributing nearly 48 points DSEX fall jointly.

The market opened on negative note and the downturn continued until end of the session with no sign of reversal.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 8.64 points to finish at 1,758 and the DSE Shariah Index lost 1.97 points to close at Tk 1,169.

Turnover, a crucial indicator of the market, went up slightly to Tk 4.07 billion, which was 10 per cent higher than the previous day’s Tk 3.71 billion.

A total number of 125,427 trades were executed in the day’s trading session with trading volume of 95.83 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,747 billion on Monday, from Tk 3,759 billion in the previous session.

Losers took a strong lead over the gainers as out of 353 issues traded, 237 closed lower, 74 ended higher and 42 remained unchanged on the DSE trading floor.

National Tubes topped the turnover chart for the second straight session with 1.53 million shares worth more than Tk 220 million changing hands, followed by IBN Sina, M Monno Ceramic Industries and United Power.

Al-Haj Textile was the day’s best performer, posting a gain of 9.77 per cent while United Power was the day’s worst loser, plunging by 13.12 per cent following its price adjustment after record date.

The port city’s bourse, the Chittagong Stock Exchange, also closed lower with its All Shares Price Index (CAPSI) -- CASPI-- losing 63 points to close at 15,228 and the Selective Categories Index - CSCX – shedding 36 points to finish at 9,247.

Here too, losers beat the gainers as 185 issues closed lower, 50 higher and 21 remained unchanged on the CSE.

The port city bourse traded 5.14 million shares and mutual fund units worth nearly Tk 694 million in turnover.

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