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Stocks dive to open week

WT24 Desk

Stock market suffered extensive fall to open week on Sunday, bringing down the broader indices to lower support level while investors were cashing in instead of taking long position, agencies report.

The DSEX lost over 53 points as major large-cap stocks continued to slid to take benchmark index close to 4700 points at around midday before closing at 4728.12, with some investors buying stocks those became cheaper at last hours trade.

The overall trading at Dhaka Stock Exchange (DSE), however, remained
highly negative when 233 securities incurred loss against only 51 advancing scrips.

The price fall across the board also caused 21.30 points fall in the DS30 that closed below 1800 points at 1796.69. The Shariah DSES also lost nearly 14 points to finish at 1135.79.

The daily trade value fell by 6.18 percent to Taka 338.48 crore when the trade volume was marginally down at Taka 11.53 crore.

All the major sectors including bank, food and allied, fuel and power,
NBFI, pharmaceuticals, miscellaneous and textile decreased when mutual funds and telecom were up.

The major advancing issues were LR Global MHSML, KBPPWBIL, Trust Bank 1MF and Sonali Bank when the major losers were Matin Spinning, Midas Finance, Dulamia Cotton, Fine Food and CAN Textile.

Lafarge Surma topped the turnover list followed by Beximco Pharma, MHSML, GP, FAR Chemical, Lafarge Surma, Squire Pharma and Trust Bank.

Chittagong Stock Exchange (CSE) also opened the week in red when its major CSCX index ended over 180 points down at 8804.27.

Like DSE, most issues traded on CSE closed lower. On the first trading
session of the week, only 38 securities closed higher against 239 losing issues when the daily trade value was Taka 33.77 crore for little over 1 crore shares.

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