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Stocks plummet as profit-taking sales continue

FE Online Desk | Published: January 08, 2018 14:59:17 | Updated: January 10, 2018 11:46:36


Stocks plummeted on Monday, extending the bear run to the third session as investors continued selling shares to take profit after the recent market surge.

Brokers said retail investors remained cautious about fresh exposure to the market, while institutional investors adopted ‘go-slow’ strategy on bearish trend.

The Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive note but within first 30 minutes of trading, both the bourses fell into negative momentum in dull trading.

DSEX, the key index of the prime bourse, slipped 16 points while the CSE All Shares Price Index (CAPSI) of port city bourse lost 24 points around 11:00am.

Finally the key index of the country’s prime bourse fell more than 58 points while the CSE All Shares Price Index (CAPSI) of port city bourse lost 142.53 points at closing.

DSEX went down by 57.91 points or 0.92 per cent to finish at 6,210.

Two others indices also closed lower. The DS30 index, comprising blue chips, also saw a fractional loss of 0.93 per cent or 21.76 points to close at 2,261.

The DSE Shariah Index (DSES) dropped 8.23 points or 0.58 per cent to finish at 1,394.

Turnover, the crucial indicator of the market, also came down to Tk 4.77 billion, which was 1.64 per cent lower than the previous session’s turnover of Tk 4.85 billion.

The losers took a strong lead over the gainers as out of 334 issues traded, 213 closed lower, 67 closed higher and 54 remained unchanged on the DSE trading floor.

Paramount Textile topped the day’s turnover chart with shares of Tk 175 million changing hands, followed by City Bank, IFAT Autos, Brack Bank, and National Tubes.

The port city bourse - the Chittagong Stock Exchange - also closed lower with CSE All Shares Price Index (CAPSI) - losing 142 points to finish at 19,251.

The Selective Categories Index of the port city bourse -- CSCX -- also lost 88 points to settle at 11,632 points.

Losers beat gainers as 140 issues closed lower, 55 closed higher and 37 remained unchanged on the CSE.

The CSE traded 12.07 million shares and mutual fund units worth Tk 401 million in turnover.

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