Stocks extend losing streak for second day

FE Online Report | Published: October 24, 2017 15:50:05 | Updated: October 25, 2017 12:17:02


Stocks stayed downturn for the second straight session on Tuesday as risk-averse investors continued their selling binge on sector-wise issues amid ongoing earnings and corporate declarations session.

Market insiders said small investors were cautious about fresh exposure to the market, while institutional investors followed ‘wait-and-see’ strategy to inject money into stocks amid ongoing earning disclosures and dividend declarations, taking the market in red zone for second day.

After witnessing see-saw movement throughout the trading session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 13.93 points or 0.23 per cent to settle at 5,968.

The two other indices -- the DS30 index and the DSE Shariah Index (DSES) – also followed the suit to close at 2,173 and 1,321 points, after losing 1.31 points and 3.25 points respectively.

Bearish sentiment also reflected on the turnover activities as total turnover remained low amounting to Tk 5.36 billion, which was 2.48 per cent higher than the previous day’s turnover of Tk 5.23 billion.

A total number of 0.099 million trades were executed in the day’s trading session with trading volume of 122.66 million securities.

The total market capitalisation of the DSE stood at Tk 4,068 billion which was Tk 4,066 billion in the previous trading session.

The losers took a strong lead over the gainers as out of 332 issues traded, 187 closed lower, 105 closed higher and 40 remained unchanged on the DSE floor.

Brac Bank emerged as turnover leader with about 5.0 million shares of Tk 491 million changing hands, closely followed by LankaBangla Finance, Grameenphone, IFAD Autos and Rangpur Foundry.

Monno Ceramic Industries was the day’s highest gainer, posting a 9.97 per cent rise, while Kay Q Que was the worst loser, plunging 9.96 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index - CSCX – losing 26 points to settle at 11,190.

Losers beat gainers as 143 issues closed lower, 65 closed higher and 33 remained unchanged on the CSE.

The port city bourse traded 18.63 million shares and mutual fund units’ worth Tk 1.28 billion in turnover.

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