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Stocks extend loss to straight third week

WT24 Desk

Stocks extended loss to straight third week on Sunday when the indices sunk further to close the week’s first trading session, BSS reports.  DSEX, the broader price index of Dhaka Stock Exchange (DSE) lost over 37 points to finish the day at 4435.46 when the blue-chip DS30 and the Shariah DSES followed it to finish down at 1703.77 and 1078.86 respectively.

Market analysts attributed the fall to the heavy sell-off in large-cap securities, including BSRM Limited, Orion Pharma and Summit Power. According to the daily market update of Lanka Bangla Securities Limited (LBSL), all the major sectors including bank, food and allied, NBFI and pharmaceuticals decreased when cement and telecom sectors increased marginally.

Both the daily trade value and volume declined by over 10.0 percent to Taka 300 crore and 10.63 crore shares accordingly, resulted in further price fall across the board. Out of the traded 310 issues, only 64 ended higher, with Libra Infusion, CMC Kamal, Gemini Sea Food, Eastern Lub and ITC being the top five.

BSRM Limited, Aziz Pipe, Progressive Life, Wata Chemical and Asia Pacific Insurance were the most of losing securities when 195 issues suffered loss. The most traded securities were BSRM Limited, Lafarge Surma Cement, Lanka Bangla Finance, Ifad Autos and Quasem Drycell. Chittagong Stock Exchange (CSE) also began another week in red when its major CSCX index lost nearly 49 points to finish at 8320.61.

Among the day’s traded 231 issues, only 49 closed higher against 147 losing securities when the daily trade value was Taka 33.26 crore for 1.03 crore shares.

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