Stocks slip into red as GP, BATBC drops

Stocks slipped back into the red on Wednesday, after a single-day break, as cautious investors went on selling on sector-wise large-cap issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 28.97 points or 0.64 per cent to settle at 4,481.

Market analysts said risk-averse investors went on selling binge on selective large-cap issues like Grameenphone, BATBC, Renata and National Life Insurance amid ongoing earnings declarations.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 17.25 points to finish at 1,525 and the DSE Shariah Index shed 5.68 points to close at 1,028.

Turnover, a crucial indicator of the market, also fell and amounted to Tk 4.39 billion, which was 6.0 per cent lower than the previous day’s turnover of Tk 4.67 billion.

Losers took a strong lead over the gainers as out of 355 issues traded, 180 closed lower, 114 ended higher and 61 remained unchanged on the DSE trading floor.

A total number of 131,793 trades were executed in the day’s trading session with trading volume of 150.70 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,421 billion, from Tk 3,446 billion in the previous session.

LafargeHolcim continued to top the turnover chart with shares worth nearly Tk 278 million changing hands, followed by BBS Cables, SK Trims, BATBC and Paramount Textile.

KDS Accessories was the day’s best performer, posting a gain of 9.87 per cent while MI Cement was the worst loser, losing 7.83 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended lower with its All Shares Price Index (CASPI)—shedding 52 points to close at 13,663 and the Selective Categories Index - CSCX –losing 33 points to finish at 8,283.

Here too, the losers beat gainers, as 112 issues closed lower, 98 ended higher and 33 remained unchanged on the CSE.

The port city bourse traded 10.81 million shares and mutual fund units worth nearly Tk 384 million in turnover.

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