Stocks slip into red as banks keep falling

FE Online Report | Published: September 09, 2018 16:25:58 | Updated: September 13, 2018 12:01:43


Stocks ended marginally lower on Sunday, snapping a three-day gaining streak, as risk-averse investors opted to book profit on sector specific stocks.

Market insiders said stocks fell marginally as investors booked profit, particularly December year-ending stocks like bank and non-bank financial institutions stocks.

The market opened on negative note and the downward trend continued till end of the session amid modest volatility.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,549, shedding 24.46 points or 0.43 per cent over the previous session.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 11.13 points to finish at 1,947 and the DSE Shariah Index lost 2.57 points to close at 1,276.

Turnover, the most important indicator of the market, however, stood at Tk 9.0 billion, which was 10 per cent higher than the previous session’s Tk 8.17 billion.

A total number of 162,972 trades were executed in the day’s trading session with trading volume of 209.44 million securities.

The market capitalisation of the DSE came down to Tk 3,956 billion on the day which was Tk 3,963 billion in the previous session.

Of the 334 issues traded, 197 declined, 91 advanced and 46 issues remained unchanged on the DSE trading floor.

Active Fine Chemicals dominated the turnover chart with shares worth Tk 716 million changing hands, followed by Khulna Power Company, Saiham Textile, Dragon Sweater and United Power.

Aziz Pipes was the day’s best performer, posting a gain of 9.99 per cent while United Power was the worst loser, losing 12.21 per cent following its price adjustment after record date.

The port city bourse CSE finished lower with its CSE All Share Price Index – CASPI – losing 85 points to settle at 17,117 and the Selective Categories Index - CSCX –shedding 53 points to finish at 10,373.

The losers beat gainers as 146 issues closed lower, 68 ended higher and 22 issues remained unchanged on the CSE.

The port city bourse traded 17.18 million shares and mutual fund units worth more than Tk 620 million in turnover.

 

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