Stocks extend losses for fourth straight day

FE Online Report | Published: September 04, 2018 15:45:32 | Updated: September 13, 2018 12:01:46

Stocks witnessed yet another downbeat session on Tuesday, extending the losing streak for the fourth straight session, as investors continued their selling binge.

Analysts said the market extended losses as most of the investors continued to book profit on heavyweight banking sector’s stocks.

The market opened on positive note and the prime index of the major bourse rose about 17 points within first 15 minutes 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 37.61 points or 0.67 per cent to settle at 5,552.

The two other indices–the DS30 index and the DSE Shariah Index (DSES)–also closed lower.

The DS30 index, comprising blue chips, fell 9.33 points to finish at 1,950 and the DSE Shariah Index lost 3.37 points to close at 1,271.

Turnover, the another important indicator of the market, stood at Tk 7.16 billion, which was 1.56 per cent higher than the previous day’s turnover of Tk 7.08 billion.

Share prices of 68 per cent traded issues on the DSE trading floor declined as out of 334 issues, 228 closed lower, 64 ended higher and 42 issues remained unchanged.

A total number of 132,606 trades were executed in the day’s trading session on the DSE with trading volume of 170.37 million securities.

The market capitalisation of the DSE came down to Tk 3,952 billion on the day which was Tk 3,967 billion in the previous session.

Khulna Power Company topped the DSE turnover chart for the third day in a row with 7.55 million shares worth Tk 654 million changing hands.

The other turnover leaders were Confidence Cement, BBS Cables, Nahee Aluminum Composite Panel and Aman Feed.

Bangladesh Submarine Cables Company was the day’s best performer for the second day, posting a gain of 9.92 per cent while Savar Refractories was the worst loser, losing 9.89 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), closed lower with its CSE All Share Price Index – CASPI – losing 133 points to settle at 17,070 and the Selective Categories Index - CSCX –slumping by 80 points to finish at 10,338.

The losers beat gainers as 166 issues closed lower, 56 ended higher, with 26 issues remaining unchanged on the CSE.

The port city bourse traded 8.29 million shares and mutual fund units worth more than Tk 263 million in turnover.


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