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Stocks witnessed another downward trend on Monday, extending the losing spell for the four consecutive sessions, as investors went on late hours selling spree, particularly bank and telecom stocks.
Market operators said the market extended the losses as investors continued to sell banking shares while some others were busy rebalancing their portfolios based on the quarterly earnings and year-end dividend declarations.
The market opened on positive note and the key index gained about 20 points within first 40 minutes of trading, but rest of the session fell steadily, finally DSEX closed more than 10 points lower while the CSE All Share Price Index fell 14 points at closing.
DSEX, the key index of the DSE, settled at 5,683, losing 10.74 points or 0.18 per cent over the previous session.
DSEX shed more than 130 points within four consecutive trading sessions.
The two other indices also ended lower. The DS30 index, comprising blue chips, fell 5.73 points or 0.27 per cent to finish at 2,114. The DSE Shariah Index (DSES) lost 1.75 points or 0.13 per cent to close at 1,318.
Bearish sentiment also reflected on the trading activities dipped below Tk 5.0 billion-mark and the total turnover on the DSE amounting to Tk 4.90 billion, which was 7.72 per cent lower than the previous day’s Tk 5.31 billion.
The losers took a modest lead over the gainers as out of 340 issues traded, 148 closed lower, 139 ended higher and 53 issues remained unchanged on the DSE trading floor.
Beximco continued to top the turnover chart with shares worth Tk 288 million changing hands, closely followed by BD Thai Aluminium, Square Pharmaceuticals and United Power.
IT Consultants was the day’s best performer, posting a gain of 9.77 per cent while Prime Bank was the day’s worst loser, losing 12.90 per cent following its price adjustment after record date.
The port city’s bourse CSE also closed slightly lower with the CSE All Share Price Index - CASPI – losing 14 points to settle at 17,556 and Selective Categories Index - CSCX –shedding 10 points to finish at 10,614.
The losers beat the gainers as 106 issues closed lower, 105 ended higher and 35 remained unchanged.
The port city bourse traded 8.42 million shares and mutual fund units worth more than Tk 219 million in turnover.