The Financial Express

Stocks extend losses amid growing tension over coronavirus

| Updated: January 26, 2022 17:11:00

Stocks extend losses amid growing tension over coronavirus

Stocks extended the losing streak for the second straight session on Monday as cautious investors continued selling shares amid growing tension over rising virus cases.

DSEX, the prime index of Dhaka Stock Exchange (DSE), went down by 53.74 points or 0.75 per cent to settle at 7,019.

Two other indices also closed lower. The DSE 30 Index, comprising blue chips, dropped 15.18 points to finish at 2,614 and the Shariah Index (DSES) fell 3.08 points to close at 1,505.

Turnover, a crucial indicator of the market, dropped further and amounted to Tk 12.14 billion, which was 18 per cent lower than the previous day’s tally of Tk 14.82 billion.

Market analysts said the cautious investors continued their selling binge on quick gaining stocks amid a rising trend of new coronavirus cases in the country.

The overall downward pressure intensified as the rising virus cases and death further hit investors’ confidence, they said.

Losers took a strong lead over the gainers, as out of 380 issues traded, 270 declined, 71 advanced and 29 issues remained unchanged on the DSE floor.

Bangladesh Shipping Corporation, which lost 6.04 per cent, was the most traded stock with shares worth Tk 1.13 billion changing hands, followed by Beximco (Tk 981 million), Power Grid Company (Tk 367 million), BATBC (Tk 323 million) and Fu-Wang Food (Tk 322 million).

BD Thai Food & Beverage, which made its trading debut Monday, was the day’s top gainer, posting a 10 per cent gain while the ACME Pesticide was the worst loser, losing 7.32 per cent.

The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI –shedding 149 points to settle at 20,552 and the Selective Categories Index – CSCX—losing 89 points to close at 12,346.

Of the issues traded, 213 declined, 63 advanced and 35 remained unchanged on the CSE.

The port city bourse traded 10.97 million shares and mutual fund units with a turnover value of Tk 385 million.

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