Stocks spike; DSEX dips below 5,300-mark

Stocks spiked on Tuesday, extending the losing streak for the second sessions, as investors continued their selling spree amid the implementation of the single-digit lending rate.

The market started on high note and the key index of the prime bourse rose about 42 points within first 40 minutes of trading. 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 49.24 points or 0.92 per cent to come down below 5,300-mark to settle at 5,273.

The two other indices end lower. The DS30 index, comprising blue chips, fell 21 points to settle at 1,894 and the DSE Shariah Index lost 11 points to close at 1,236.

Turnover, the most important indicator of the market, also came down to Tk 6.27 billion, which was 20 per cent lower than the previous session’s Tk 7.85 billion.

Of the traded issues, 195 declined, 102 advanced and 43 issues remained unchanged on the DSE trading floor.

Bashundhara Paper Mills, which made its share trading debut on Monday, topped the DSE turnover chart with shares worth Tk 493 million changing hands, closely followed by United Power, Ratanpur Steel, Monno Ceramic Industries, and legacy Footwear.

The port city bourse—CSE—also ended lower with its CSE All Share Price Index–CASPI–shedding 137 points to settle at 16,252 and the Selective Categories Index–CSCX–losing 84 points to finish at 9,823.

Here too, losers beat gainers as 138 issues closed lower, 77 ended higher, with 23 issues remained unchanged on the CSE.

The port city bourse traded 8.45 million shares and mutual fund units worth more than Tk 351 million in turnover.

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