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Stocks end marginally lower, snapping six-day winning streak

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Stocks ended marginally lower on Sunday, snapping a six-day gaining streak, as cautious investors opted for booking profit on quick-gaining shares amid the rising trend of Covid-19 cases.

DSEX, the prime index of Dhaka Stock Exchange (DSE), went down by 32.69 points or 0.46 per cent to settle at 7,073, after gaining over 109 points in the past six consecutive sessions.

Two other indices also edged lower. The DSE 30 Index, comprising blue chips, dropped 5.93 points to finish at 2,629 and the Shariah Index (DSES) saw a fractional loss of 0.30 points to close at 1,508.

Turnover, a crucial indicator of the market, dropped further and amounted to Tk 14.82 billion, which was 7.43 per cent lower than the previous day’s tally of Tk 16.01 billion.

Market analysts said concern over the rising trend of Covid-19 cases and death in the country prompted some investors to book profit on sector-wise stocks, taking the market in the red zone.

Losers took a strong lead over the gainers, as out of 378 issues traded, 248 declined, 102 advanced and 28 issues remained unchanged on the DSE floor.

Beximco, which lost 1.37 per cent, was the most traded stock with shares worth Tk 1.56 billion changing hands, followed by Bangladesh Shipping Corporation (Tk 643 million), Power Grid Company (Tk 560 million), Asia Insurance (Tk 372 million) and Apex Footwear (Tk 361 million).

Newly listed Union Insurance was the day’s top gainer, posting a 10 per cent gain while the state-run Padma Oil Company was the worst loser, losing 6.59 per cent.

The Chittagong Stock Exchange (CSE) also ended lower with the CSE All-Share Price Index – CASPI –shedding 115 points to settle at 20,702 and the Selective Categories Index – CSCX—losing 68 points to close at 12,436.

Of the issues traded, 199 declined, 75 advanced and 30 remained unchanged on the CSE.

The port city bourse traded 12.57 million shares and mutual fund units with a turnover value of Tk 388 million.

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