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Stocks extend losing streak amid low turnover

FE Online Report | Published: May 21, 2019 16:00:30 | Updated: May 22, 2019 15:23:48


Stocks extended the losing streak for the second straight session on Tuesday as risk-averse investors continued their selling spree on sector-wise shares. 

Market analysts said the investors continued to opt to book quick-gain on shares that witnessed price surges over the last few sessions. 

The market opened on negative note and the downward trend continued until end of the session amid modest volatility. 

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,236, losing 39.29 points or 0.74 per cent over the previous session. 

Two other induces also edged lower. The DS30 index, comprising blue chips, fell 10.58 points to finish at 1,822 and the DSE Shariah Index shed 3.93 points to close at 1,195. 

Turnover, another important indicator of the market, also fell to Tk 3.51 billion, which was 9.30 per cent lower than the previous day’s turnover of Tk 3.87 billion. 

The losers took a strong lead over the gainers as out of 347 issues traded, 217 declined, 87 advanced and 43 issues remained unchanged on the DSE trading floor. 

A total number of 101,622 trades were executed in the day’s trading session with trading volume of 108.44 million securities. 

The market capitalisation of the DSE came down to Tk 3,859 billion on Tuesday, from Tk 3,871 billion in the previous session. 

Runner Automobiles, which made trading debut today, topped the turnover chart with 3.52 million shares worth Tk 354 million changing hands. 

The other turnover leaders were SK Trims Industries, Bangladesh Submarine Cable Company and Fortune Shoes. 

Global Insurance was the day’s best performer, posting a gain of 9.85 per cent while Uttara Bank was as the worst loser, losing 8.85 per cent. 

The port city bourse, Chittagong Stock Exchange, also ended lower with its CSE All Share Price Index – CASPI –shedding 95 points to settle at 16,007 and the Selective Categories Index - CSCX –losing 56 points to finish at 9,691. 

Here too, the losers beat gainers, as 141 issues closed lower, 66 ended higher and 31 remained unchanged on the CSE trading floor. 

The port city bourse traded 16.72 million shares and mutual fund units worth Tk 360 million in turnover. 

 

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