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The Financial Express

Stocks extend losses for third day

FE Online Report | Published: February 24, 2020 17:00:25 | Updated: February 29, 2020 10:54:16


Stocks extend losses for third day

Stocks extended the losing streak for the third straight session on Monday as cautious investors continued their sell-offs amid ongoing dividend declarations session.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 48 points or 1.02 per cent to settle at 4,650.

DSEX has lost a cumulative 108 points in the past three consecutive sessions.

Two other indices also ended in the red. The DS30 index, comprising blue chips, fell 20.54 points to close at 1,571 and the DSES (Shariah) index shed 12.42 points to settle at 1,073.

Turnover, an important indicator of the market, stood at Tk 6.0 billion on the country’s premier bourse, falling further by 10 per cent over previous day’s turnover of Tk 6.68 billion.

Losers took a strong lead over the gainers as out of 355 issues traded, 201 closed lower, 103 ended higher and 51 remained unchanged on the DSE trading floor.

A total number of 149,307 trades were executed in the day’s trading session with trading volume of 208.03 million shares and mutual fund units.

The market-cap of the DSE also fell sharply to Tk 3,550 billion, from Tk 3,599 billion in the previous session.

VFS Thread Dyeing topped the turnover chart with shares worth Tk 269 million changing hands, closely followed by Grameenphone, Orion Pharma, Confidence Cement and SK Trims & Industries.

VFS Thread Dyeing was also the day’s best performer, posting a gain of 9.96 per cent while Northern Jute Manufacturing Company was the worst loser, losing 8.74 per cent.

The Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI)—losing 116 points to close at 14,263 and the Selective Categories Index - CSCX –shedding 70 points to finish at 8,656.

Here too, the losers beat gainers, as 134 issues closed lower, 78 ended higher and 32 remained unchanged on the CSE.

The port city bourse traded 9.82 million shares and mutual fund units worth Tk 260 million in turnover.

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