Stocks fall, DSEX slips below 5800-mark

Stocks extended their losing streak for the second day in a row on Wednesday as risk-averse investors opted for profit-motivated sell-offs.

Despite the market close lower, Genex Infosys made a flying trade debut today as its share price soared 465 per cent or Tk 46.5 each to close at Tk 56.50 on the DSE. Its issue price was Tk 10 each.

Following the previous day’s marginal correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive note. But failed to maintain the trend as the session progressed.

At the end of the session, DSEX, the prime index of the DSE, settled at 5,786, losing 14.23 points or 0.24 per cent over the previous day.

The DSES (Shariah) index also lost 5.03 points to settle at 1,312 points. However, the DS30 index, comprising blue chips, advanced 1.35 points to finish at 2,022.

Turnover, another important indicator of the market, stood at Tk 7.66 billion, which was 8.50 per cent higher than the previous day’s turnover of Tk 7.06 billion.

The losers took a strong lead over the gainers, as out of 346 issues traded, 185 closed lower, 114 ended higher and 47 remained unchanged on the DSE trading floor.

A total number of 165,932 trades were executed in the day’s trading session with trading volume of 167.92 million shares and mutual fund units.

The market-cap of the DSE increased to Tk 4,187 billion which was Tk 4,178 billion in the previous day.

United Power topped the day’s turnover chart with 1.89 million shares worth Tk 737 million changing hands, closely followed by newly listed Genex Infosys, Sonar Bangla Insurance, Paramount textile and Bangladesh Submarine Cable Company.

Insurance sector dominated the gainers chart with Eastern Insurance was the day’s best performer, posting a gain of 10 per cent while Meghna Pet Industries was the day’s worst loser, shedding 5.58 per cent.

The port city bourse also closed in the red with the CSE All Share Price Index – CASPI – losing 16 points to settle at 17,718 while the Selective Categories Index – CSCX –shedding 10 points to finish at 10,718.

Here too, the losers beat the gainers as 151 issues ended lower, 97 higher and 29 remained unchanged.

The port city bourse traded 10.69 million shares and mutual fund units worth more than Tk 360 million in turnover.

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