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Stocks keep falling for third day

| Updated: June 24, 2022 10:20:53

Stocks keep falling for third day

Stocks extended the losing streak for the third straight session on Tuesday as investors continued their sell-off amid macroeconomic worries.

The market started on a negative note and the downturn sustained until the end of the session as investors sold major sector stocks, ultimately ending over 45 points lower.

DSEX, the core index of the Dhaka Stock Exchange, slid 45.72 points or 0.72 per cent to settle at 6,311, lowest in the four weeks since May 26. DSEX shed 114 points in the past three consecutive sessions.

Turnover, the crucial indicator of the market, also dropped further to Tk 7.25 billion, which was 12 per cent lower than the previous day’s tally of Tk 8.22 billion.

Market insiders said investors went for selling shares amid rising concerns over the country’s macroeconomic situation fueled by Russia- Ukraine war and global commodity price instability.

Two other indices also ended lower. The DSE 30 Index, comprising blue chips, lost 19.15 points to finish at 2,295 and the DSE Shariah Index (DSES) shed 9.11 points close at 1,378.

Losers took a strong lead over the gainers as 382 issues traded, 282 declined, 57 advanced and 43 issues remained unchanged on the DSE trading floor.

Beximco was the most-traded stocks with shares worth Tk 384 million changing hands, followed by Anwar Galvanizing (Tk 279 million), Fu-Wang Food (Tk 237 million), JMI Hospital Requisite (Tk 191 million) and Shinepukur Ceramics (Tk 159 million).

Junk stock Imam Button was the top gainer, posting a 10 per cent gain while Tallu Spinning Mills was the day’s worst loser, losing 2.0 per cent.

The Chittagong Stock Exchange (CSE) also kept losing with the CSE All Share Price Index – CASPI –slumping 137 points to settle at 18,591 and the Selective Categories Index – CSCX –shed 83 points to close at 11,145.

Of the issues traded, 211 declined, 34 advanced and 30 issues remained unchanged on the CSE.

The port city’s bourse traded 22.44 million shares and mutual fund units with turnover value worth over Tk 562 million.

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