Stocks witnessed yet another bearish session Thursday, extending the losing streak for the seven consecutive sessions, as investors continued their selling binge amid poor quarterly earnings disclosures.
Market operators said ongoing pessimism coupled with upcoming holy month of Ramadan continued to prompt investors to cash in on stocks while some adopted ‘wait-and-see’ stance ahead of national budget.
The market started the session on negative note and the downward trend continued till end of the session with no sign of reversal, finally DSEX fell more than 40 points while CSE All Share Price Index lost 111 points at closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 40.11 points or 0.71 per cent to settle at 5,587 points.
The two other indices also ended lower. The DS30 index, comprising blue chips, fell 12 points or 0.57 per cent to finish at 2,073. The DSE Shariah Index (DSES) lost 2.14 points or 0.16 per cent to close at 1,307.
Trading activities almost same as the total turnover amounting to Tk 5.62 billion against Tk 5.60 billion in the previous session.
The losers took strong lead over the gainers as out of 334 issues traded, 197 closed lower, 89 ended higher and 48 issues remained unchanged on the DSE trading floor.
Western Marine Shipyard topped the turnover chart with shares worth Tk 276 million changing hands, closely followed by BBS Cables, Beximco, Dragon Sweater and BSRN.
The port city’s bourse CSE also closed lower with the CSE All Share Price Index - CASPI – losing 110 points to settle at 17,257 and Selective Categories Index - CSCX – shedding 64 points to finish at 10,426.
Here too, losers beat the gainers as 125 issues closed lower, 74 ended higher and 29 remained unchanged.
The port city bourse traded 9.07 million shares and mutual fund units worth more than Tk 275 million in turnover.