logo

Stocks tumble after five-day rise

FE ONLINE REPORT | Wednesday, 8 December 2021


Stocks tumbled on Wednesday, snapping a five-day gaining streak as cautious investors opted for booking profit on quick-gaining issues.

The DSEX, the prime index of the Dhaka Stock Exchange, slid 96.85 points or 1.37 per cent to close at 6952, after gaining 345 points in the past five consecutive sessions.

Market analysts said the market ended sharply lower as the stock market coordination meeting with the central bank, securities regulator and NBR held at the finance ministry on Tuesday did not take any decision on banks’ investment in the capital market.

Two other indices also ended lower. The DSE 30 Index, comprising blue chips, plunged 39.25 points to finish at 2,621 and the DSE Shariah Index (DSES) shed 13 points to close at 1,467.

Turnover, a crucial indicator of the market, also fell to Tk 13.52 billion, which was 13 per cent lower than the previous day’s tally of Tk 13.31 billion.

Losers took a strong lead over the gainers, as out of 374 issues traded, 257 declined, 97 advanced and 20 remained unchanged on the DSE trading floor.

Beximco was the most traded stock with shares worth Tk963 million changing hands, closely followed by IFIC Bank (Tk 440 million), GSP Finance (Tk 367 million), ONE Bank (Tk 309 million) and Sena Kalyan Insurance (Tk 288 million).

Fine Foods was the day’s highest gainer, soaring 9.86 per cent while Dulamia Cotton Spinning Mills was the day’s worst loser, losing 7.38 per cent.

The Chittagong Stock Exchange (CSE) also ended sharply lower the CSE All Share Price Index – CASPI –shedding 251 points to settle at 20,359 and the Selective Categories Index – CSCX, losing 154 points to close at 12,233.

Of the issues traded, 184 declined, 82 advanced and 23 remained unchanged on the CSE.

The port city’s bourse traded 24.18 million shares and mutual fund units with a turnover value of Tk 530 million.

[email protected]