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The Financial Express

Stocks extend losses amid sluggish turnover

FE Online Report | Published: December 24, 2017 14:55:56 | Updated: December 26, 2017 14:47:18


FE file photo used for representation. FE file photo used for representation.

Stocks witnessed yet another bearish session Sunday with sluggish trading activities as investors were mostly cautious ahead of year-ending.

Brokers said retail investors remained cautious about fresh exposure to the market, while institutional investors adopted ‘go-slow’ strategy as year-closing is near.

Following the previous week’s marginal correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive note.

Within first 30 minutes of trading, the key index of the major rose around 15 points while the CSE All Shares Price Index (CAPSI) of port city bourse advanced 35 points.

But rest of the session fell steadily, finally the key index of the country’s prime bourse fell more than 23 points while the CSE All Shares Price Index (CAPSI) of port city bourse lost 65 points at closing.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 23.48 points or 0.38 per cent to settle at 6,159.

The DS30 index, comprising blue chips saw a fractional loss of 0.14 point to close at 2,231.

However, the DSE Shariah Index (DSES) advanced 0.40 points or 0.03 per cent to finish at 1,367.

Turnover, the crucial indicator of the market, also came down to Tk 3.60 billion, which was 2.13 per cent lower than the previous session’s turnover of Tk 3.68 billion.

The losers took a strong lead over the gainers as out of 333 issues traded, 245 closed lower, 58 closed higher and 30 remained unchanged on the DSE trading floor.

The newly listed Nahee Alumium topped the day’s turnover chart with shares of Tk 473 million changing hands, followed by National Tubes, BBS Cables, Rupali Life Insurance and Brac Bank.

The port city bourse - the Chittagong Stock Exchange - (CSE) also closed lower with CSE All Shares Price Index (CAPSI) - losing 65 points to finish at 19,058.

The Selective Categories Index of the port city bourse -- CSCX -- also lost 39 points to settle at 11,518 points.

Losers beat gainers as 173 issues closed lower, 36 closed higher and 27 remained unchanged on the CSE.

The port city bourse traded 10.40 million shares and mutual fund units worth Tk 413 million in turnover.

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