The Financial Express

Stocks extend losses amid lacklustre trade

| Updated: February 16, 2021 16:24:43

Stocks extend losses amid lacklustre trade

Stocks extended the losing streak for the second straight session on Sunday amid persistently lacklustre trade.

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

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 37.37 points or 0.68 per cent to settle at 5,447.

The DSE 30 Index comprising blue chips also lost 10.70 points to finish at 2,099. However, the DSE Shariah Index (DSES) advanced 2.28 points to close at 1,238.

Turnover, a crucial indicator of the market, fell to Tk 8.01 billion, which was 24 per cent lower than the previous day’s turnover of Tk 10.55 billion.

British American Tobacco Bangladesh, which saved the market from a big fall the previous day, plunged almost 6.0 per cent on Sunday.

Shares of the BATBC soared 12.62 per cent on Thursday last after it declared another 300 per cent final cash dividend, making the total cash dividend 600 per cent and 200 per cent stock dividend for the financial year that ended on December 31, 2020.

Shares of Taufika Foods and Agro Industries were frozen at almost 10 per cent—the upper limit circuit breaker for the debutant on its third trading day. It rose to Tk 24.70 from its issue price of Tk 10 in three days. It was the day’s top gainer.

Prime Insurance was the day’s worst loser for the second straight, losing 9.64 per cent. The insurer also lost 12.44 per cent on Thursday despite the company declared 10 per cent cash dividend for the year ended on December 31, 2020.

A total number of 136,674 trades were executed in the day’s trading session with a trading volume of 193.35 million shares and mutual fund units.

The market-cap of DSE also fell to Tk 4,656 billion on Sunday, down from Tk 4,697 billion in the previous day.

The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI –losing 94 points to settle at 15,789 and the Selective Categories Index – CSCX shedding 60 points to close at 9,524.

Of the issues traded, 83 declined, 35 advanced and 27 remained unchanged on the CSE.

The port city’s bourse traded 4.44 million shares and mutual fund units with a turnover value of Tk 144 million.

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