The Financial Express

Stocks break six-day rally on Omicron fear

| Updated: January 11, 2022 12:11:24

Stocks break six-day rally on Omicron fear

Stocks slumped on Sunday, snapping a six-day rally, as cautious investors opted for booking profit on quick stocks due to Omicron worries.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 54.83 points or 0.78 per cent to settle at 6,932, after gaining 256 points in the past six consecutive sessions.

Turnover, a crucial indicator of the market, also dropped to Tk 14.61 billion, which was 13.2 per cent lower than the previous day’s tally of Tk 16.83 billion.

Market analysts said stocks break the six-day rally as the risk-averse investors went on a selling binge on quick gaining stocks amid a rising trend of new coronavirus variant Omicron in the country.

Two other indices also ended lower with the DS30 index, comprising blue chips, shedding 23.96 points to finish at 2,579 and the DSE Shariah Index lost 4.01 points to close at 1,468.

The top negative index contributors were Robi, BATBC, Beximco, ICB, and BRAC Bank, jointly contributing 31 points to the DSEX, according to amarstock.com, a market data analyst.

Losers took a strong lead over the gainers as out of 378 issues traded, 248 declined, 98 advanced and 32 remained unchanged on the DSE trading floor.

A total number of 234,124 trades were executed in the day’s trading session with a trading volume of 311.52 million shares and mutual fund units.

Beximco topped the turnover list with shares worth Tk 1.04 billion changing hands, followed by Bangladesh Shipping Corporation (Tk 805 million), Delta Life Insurance (Tk 602 million), LafargeHolcim (Tk 554 million), and Power Grid Company (Tk 493 million).

Khulna Printing & Packaging was the day’s best performer, posting a gain of 10 per cent while Shyampur Sugar Mills was the worst loser, losing 7.25 per cent.

The Chittagong Stock Exchange (CSE) ended lower with its All Shares Price Index (CASPI)—shedding 183 points to close at 20,311 while the Selective Categories Index – CSCX losing 112 points to close at 12,198.

Of the issues traded, 194 declined, 86 advanced and 24 remained unchanged on the CSE.

The port city bourse traded 13.47 million shares and mutual fund units with a turnover value of more than Tk 405 million.

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