Loading...
alamgir ranch -->

Stocks extend losses on interest rate worries

| Updated: May 16, 2022 11:40:01


Stocks extend losses on interest rate worries

Stocks witnessed yet another bearish session on Thursday as the risk-averse investors kept their selling binge on sector-wise issues amid concerns over the country’s macroeconomic situation.

The market opened lower and the downturn continued until the end of the session amid high volatility, eventually ending over 26 points lower.

DSEX, the key index of the Dhaka Stock Exchange, went down by 26.52 points or 0.40 per cent to settle at 6,565.

Two other indices also ended lower. The DSE 30 Index, comprising blue chips, fell 13.72 points to finish at 2,406 and the DSE Shariah Index (DSES) lost 1.24 points to close at 1,432.

Turnover, a crucial indicator of the market, fell sharply and amounted to Tk 8.23 billion, which was 27 per cent lower than the previous day’s tally of Tk 11.35 billion.

Market insiders said fear over bank interest hike, the global commodity price instability coupled with Sri Lanka’s economic crisis taking a toll on stock index.

Losers took strong lead over the gainers as out of 381 issues traded, 242 declined, 91 advanced and 48 unchanged on the DSE trading floor.

JMI Hospital Requisite Manufacturing was the most-traded stock with shares worth Tk 444 million changing hands, closely followed by Shinepukur Ceramics (Tk 410 million), ACI Formulations (Tk 334 million), Beximco (Tk 299 million) and Rangpur Dairy & Food Products (Tk 253 million).

Shinepukur Ceramics was the top gainer, posting a 9.97 per cent gain while Paper Processing & Packaging was the worst loser, losing 4.99 per cent.

The Chittagong Stock Exchange (CSE) also extended losses with the CSE All Share Price Index – CASPI –losing 81 points to settle at 19,248 and the Selective Categories Index – CSCX – shedding 48 points to close at 11,550.

Of the issues traded, 192 declined, 68 advanced and 32 issues remained unchanged on the CSE.

The port city’s bourse traded 10.02 million shares and mutual fund units with turnover value worth Tk 299 million.

[email protected]

Share if you like