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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Stocks start week on negative note

| Updated: April 23, 2018 11:31:27


Stocks start week on negative note

Stocks ended lower on Sunday, snapping two-day gaining streak, as risk-averse investors booked quick-profit on sector-wise stocks.

Market insiders said the market slipped into the red as most of the investors followed cautious stance while some rebalanced their portfolio amid ongoing quarterly earning disclosures of listed companies.

The market opened on positive note and key index of the prime bourse gained about 24 points within first hour of trading, but rest of the session went down steadily, finally ended more than 30 points lower.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went down by 30.18 points or 0.51 per cent to settle at 5,813, after gaining 66 points in the past two consecutive sessions.

The two other indices also ended in the red. The DS30 index, comprising blue chips, fell sharply by 17.11 points or 0.77 per cent to finish at 2,187. The DSE Shariah Index (DSES) lost 12.14 points or 0.88 per cent to close at 1,353.

Turnover, another important indicator of the market, also fell and the total turnover on the DSE amounting to Tk 4.92 billion, which was 15 per cent lower than the previous day’s Tk 5.77 billion.

The losers took a strong lead over the gainers as out of 338 issues traded, 188 closed lower, 113 ended higher and 37 issues remained unchanged on the DSE trading floor.

Beximco continued to dominate the turnover chart with 14.72 million shares worth Tk 467 million changing hands, followed by Al-Afarah Islami Bank, BRAC Bank, Grameenphone and United Power.

Sonali Aansh Industries was the day’s best performer, posting a gain of 8.74 per cent while FAS Finance was the day’s worst loser, losing nearly 12 per cent following its price adjustment after record date.

Port city bourse CSE also slipped into the red with the CSE All Share Price Index – CASPI –losing nearly 100 points to settle at 17,909 and Selective Categories Index - CSCX –shedding 63 points to finish at 10,822.

Here too, the losers beat the gainers as 137 issues closed lower, 67 ended higher and 32 remained unchanged on the CSE.

The port city bourse traded 9.24 million shares and mutual fund units worth more than Tk 220 million in turnover.

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