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Stocks extend losing spell for fifth day

FE Online Report | Published: February 05, 2018 16:01:52 | Updated: February 07, 2018 10:48:25


Police are seen calming some small investors trying to stage demonstrations in front of Dhaka Stock Exchange Building on Monday as share prices continue to fall for the five straight sessions. Photo: FE

Stocks witnessed yet another bearish session Monday, extending the losing streak for the fifth straight session, as investors continued sale of shares.

Following the previous day’s biggest fall of 133 points in the four and a half years, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) started the day on a drastic fall.

Within first 25 minutes of trading, the key index of the country’s prime bourse fell more than 117 points, while the CSE All Share Price Index (CAPSI) of the port city’s bourse slumped 217 points at 10:55am.

Meanwhile, a group of small investors tried to stage demonstrations in front of DSE building to protest against share price fall at about 2.00pm, but police foiled their attempt.

They (investors) called for taking necessary steps to bring back normalcy in the market.

However, the index recovered most of the initial loss; finally DSEX closed more than 18 points lower while CAPSI fell 64 points at closing.

Market operators said a section of investors followed cautious stance amid political tension ahead of Khaleda Zia’s verdict on grafts case scheduled for February 8.

At the end of the session, DSEX, the prime index of the DSE, went down by 18.51 points or 0.31 per cent to settle at 5,869 points.

DSEX shed more than 307 points or 5.0 per cent within five trading sessions.

DS30 index, comprising blue chips, also saw a fractional loss of 0.29 point or 0.01 per cent to close at 2191. However, the DSE Shariah Index closed flat at 1,377 points.

The losers took a modest lead over the gainers as out of 335 issues traded, 186 closed lower, 111 higher and 38 remained unchanged on the DSE trading floor.

Beximco Pharmaceuticals topped the turnover chart with shares worth Tk 211 million changing hands, followed by Square Pharmaceuticals, LankaBangla Finance, Grameenphone and Brac Bank.

Islamic Insurance was the day’s highest gainer with a gain of 4.33 per cent while Progressive Life Insurance was the worst loser with a loss of 5.89 per cent.

Port city bourse CSE also closed lower with CSE All Share Price Index–CAPSI–shedding 64 points to settle at 18,155 and Selective Categories Index–CSCX–falling 37 points to finish at 10,968.

Here too, the losers beat the gainers as 125 issues closed lower, 78 ended higher and 21 remained unchanged on the CSE.

The port city bourse traded 7.78 million shares and mutual fund units worth nearly Tk 199 million in turnover.

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