The Financial Express

Stocks extend losses amid dull trade

| Updated: February 22, 2021 17:16:07

Stocks extend losses amid dull trade

Stocks extended the losing streak for the third straight session on Thursday amid persistently lacklustre trade.

The market swung between negative and positive several times during the trading session as investors remained confused about the clear market direction.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 27.69 points or 0.50 per cent to settle at 5,475. DSEX lost more than 68 points in the past three consecutive sessions.

Two other indices also ended lower. The DSE 30 Index comprising blue chips, lost 14.82 points to finish at 2,105 and the DSE Shariah Index (DSES) shed 8.42 points to close at 1,242.

Turnover, a crucial indicator of the market, fell to Tk 6.94 billion, which was nearly 20 per cent lower than the previous day’s turnover of Tk 8.64 billion.

Market analysts said the shaky investors continued their sell-offs in almost all the major sectors amid persisting volatility in the market.

The top negative index contributors were Grameenphone, Robi, British American Tobacco Bangladesh, Beximco Pharma and Brac Bank, contributing roughly 37 points fall of DSEX jointly, according to data from amarstock.com, a stock market data analyst.

Beximco that gained 1.56 per cent was the most traded stock with shares worth over Tk 2.13 billion changing hands, followed by Robi, BATBC, Beximco Pharma and LankaBangla Finance.

Bangladesh National Insurance was the day’s best performer, gaining 9.92 per cent while Bangladesh General Insurance was the worst loser, losing 6.09 per cent.

A total number of 125,957 trades were executed in the day’s trading session with a trading volume of 154.14 million shares and mutual fund units.

The market-cap of DSE also fell to Tk 4,656 billion on Thursday, down from Tk 4,686 billion in the previous day.

The Chittagong Stock Exchange (CSE) also kept losing with the CSE All Share Price Index – CASPI –shedding 120 points to settle at 15,821 and the Selective Categories Index – CSCX losing 71 points to close at 9,544.

Of the issues traded, 111 declined, 56 advanced and 61 remained unchanged on the CSE.

The port city’s bourse traded 7.09 million shares and mutual fund units with a turnover value of Tk 235 million.

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