The Financial Express

Stocks keep losing for fourth day

FE Online Report | Published: February 25, 2020 17:20:34 | Updated: February 25, 2020 22:21:21

Stocks keep losing for fourth day

Stock continued to fall for the four straight sessions on Tuesday amid poor earnings declarations by a number of large-cap companies.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,621, losing 29.69 points or 0.63 per cent over the previous day.

DSEX lost 137 points in the past four consecutive sessions amid lower than expected earnings and dividend declaration by a number of companies.

Market analysts said the shaky investors liquidated their holding from Grameenphone, BRAC Bank, Square Pharma, Olympic Industries and United Power, taking the market in the red zone further.

Two other indices also ended in the red. The DS30 index, comprising blue chips, fell sharply by 20.24 points to close at 1,550 and the DSES (Shariah) index lost 3.63 points to settle at 1,069.

Turnover, an important indicator of the market, stood at Tk 6.30 billion on the country’s premier bourse, rising by 5.0 per cent over previous day’s turnover of Tk 6.0 billion.

Gainers, however, took a modest lead over the losers, as out of 355 issues traded, 179 closed higher, 125 ended lower and 51 remained unchanged on the DSE trading floor.

A total number of 154,969 trades were executed in the day’s trading session with trading volume of 211.77 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,527 billion, from Tk 3,550 billion in the previous session.

Brac Bank topped the turnover chart with shares worth nearly Tk 201 million changing hands, closely followed by VFS Thread Dyeing, Indo-Bangla Pharma, GP and Orion Infusion.

CVO Petrochemicals Refinery was also the day’s best performer, posting a gain of 9.95 per cent while BRAC Bank was the worst loser, losing 7.72 per cent.

The Chittagong Stock Exchange also kept losing with its All Shares Price Index (CASPI)—losing 115 points to close at 14,148 and the Selective Categories Index - CSCX –shedding 72 points to finish at 8,583.

Here too, the gainers beat losers, as 119 issues closed higher, 100 ended lower and 34 remained unchanged on the CSE.

The port city bourse traded 10.28 million shares and mutual fund units worth Tk 218 million in turnover.


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