Loading...

Stocks keep losing amid low turnover

FE Online Report | Published: May 13, 2019 17:53:05 | Updated: May 20, 2019 11:11:05


Stocks continued the losing streak for the second day in a row on Monday as shaky investors continued binge selling on sector-wise shares.

Market analysts said the financial sector remained volatile with liquidity crisis, rising interest rate, huge non-performing loans and pressure on the exchange rate that spilled over into the capital market.

The market opened on positive note and the key index of the major bourse rose about 10 points within first 20 minutes of trading. But rest of the session witnessed a steady decline.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,247, losing 26.10 points or 0.49 per cent over the previous session.

Two other induces also ended lower. The DS30 index, comprising of blue chips, fell 10.08 points to finish at 1,836 and the DSE Shariah Index shed 8.65 points to close at 1,210.

Turnover, another important indicator of the market, also fell to Tk 3.05 billion, which was 15 per cent lower than the previous day’s turnover of Tk 3.58 billion.

The losers took a strong lead over the gainers as out of 343 issues traded, 211 declined, 87 advanced and 45 issues remained unchanged on the DSE trading floor.

A total number of 81,070 trades were executed in the day’s trading session with trading volume of 104.46 million securities.

The market capitalisation of the DSE also fell to Tk 3,864 billion on Monday, from Tk 3,882 billion in the previous day.

Fortune Shoes continued to top of the DSE turnover chart with 2.96 million shares worth nearly Tk 96 million changing hands.

The other turnover leaders were Oimex Electrode, Esquire Knit Composite, DESCO and Indo-Bangla Pharma.

Eastern Cables was the day’s best performer, posting a gain of 5.29 per cent while Vanguard AML BD Finance Mutual Fund One was as the worst loser, losing 7.04 per cent.

The port city bourse, Chittagong Stock Exchange, also ended lower with its CSE All Share Price Index – CASPI –shedding 118 points to settle at 16,055 points and the Selective Categories Index - CSCX –losing 70 points to finish at 9,721.

Here too, the losers beat gainers, as 147 issues closed lower, 54 ended higher and 19 remained unchanged on the CSE.

The port city bourse traded 6.84 million shares and mutual fund units worth more than Tk 158 million in turnover.

babulfexpress@gmail.com

Share if you like