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Stocks extend losing streak

WT24 Desk

Stock market extended the losing streak on Tuesday amid falling turnover when most of the traded issues closed lower at both Dhaka and Chittagong stock exchanges.Key share price indices at the country’s twin bourses — Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) suffered loss for the second consecutive sessions on Tuesday, the 3rd trading day of the week.

 The DSE benchmark index, DSEX lost 28.30 points or 0.62 percent to close at 4513.98 on the day. Of the 312 issues traded, 128 gained, 143 declined and 41 remained unchanged.  Shares worth Tk 467.70 crore changed hands at the DSE on Tuesday which is Tk 118 crore low than Monday’s turnover of Tk 586.05 crore.  A leading stockbroker of the country, IDLC Finance on its daily market analysis, said, “Profit booking in post budget scenario continued today, as investors sell off appreciated stocks and diverted funds to safer alternatives.”

The stockbroker also said, “Sell pressure faced resistance today along the session, yielding volatility in market level. Alternating all day, DSEX finally settled for 28.3 points’ correction at the day end closing at slightly over 4,500 points mark.”  The day’s top 10 losers at the DSE were Pioneer Insurance, ICB AMCL 1st NRB Mutual Fund, Modern Dyeing & Screen Printing, Kay And Que, Stylecraft Limited, Dhaka Insurance, Rupali Bank, AFC Agro Biotech, Lafarge Surma Cement, and Prime Bank 1st ICB AMCL Mutual Fund.

Top 5 gainers of the day were United Airways, Standard Ceramic, Ifad Autos, United Power Generation & Distribution, and Alltex Industries.  The top five turnover leaders at the DSE were United Airways, Khulna Power Company, Beximco, Summit Power United Air, and United Power Generation & Distribution.  The CSE key index, CASPI shed 44.27 points to reach 13934.40 at close on Tuesday. Of the 233 issues traded, 73 advanced, 127 suffered loss and 33 remained unchanged.

The value of the traded issues was Tk 65.85 crore on the day at the CSE, agencies report.

 

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