Stocks extend losses for five straight sessions

FE Online Report | Published: July 30, 2018 16:22:02 | Updated: July 31, 2018 16:04:12


Stocks extended losses for the five straight sessions on Monday as risk-averse investors continued their selling binge on sector-wise stocks.

Brokers said some investors sold shares following disappointing earnings declarations while some followed cautious stance ahead of monetary policy statement.

The Bangladesh Bank is set to unveil the monetary policy statement for the first half of the current financial year tomorrow (Tuesday).

The market opened on positive note and key index of the premier bourse crossing 5,300-mark after one hour of trading. But, rest of the session went down steadily.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 17 points or 0.32 per cent to settle at 5,262. It was the lowest level of DSEX since January 9, 2017.

The two other indices also ended lower. The DS30 index, comprising blue chips, fell 7.02 points to finish at 1,871 and the DSE Shariah Index shed 7.78 points to close at 1,240.

Turnover, another important indicator of the market, stood at  Tk 6.14 billion, which was 6.41 per cent higher than the previous day’s Tk 5.77 billion.

Of the issues traded on the DSE trading floor, 200 closed lower, 92 higher and 43 issues remained unchanged.

A total number of 129,621 trades were executed in the day’s trading session on the DSE with trading volume of 135.77 million securities.

The market capitalisation of the country’s main bourse came down to Tk 3,813 billion on Monday which was Tk 3,820 billion in the previous session.

Saiham Textile topped the DSE turnover chart with 11.18 million shares worth Tk 328 million changing hands.

The other turnover leaders were United Power, The Peninsula Chittagong, KDS Accessories and BBS Cables.

Legacy Footwear was the day’s best performer, posting a gain of 9.96 per cent while Meghna Pet Industries was the worst loser, losing 10 per cent.

The port city bourse—CSE—ended lower with its CSE All Share Price Index – CASPI – losing 51 points to settle at 16,214 and the Selective Categories Index - CSCX –shedding 34 points to finish at 9,807.

The losers beat gainers as 147 issues closed lower, 63 ended higher, with 35 issues remaining unchanged on the CSE.

The port city bourse traded 8.04 million shares and mutual fund units worth more than Tk 532 million in turnover.

babulfexpress@gmail.com

Share if you like