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Stocks extend losses for fourth consecutive session

WT24 Desk

Stock market extended the losses to the fourth consecutive session on Monday, with the benchmark indices at the country’s twin bourses plummeting further as demand showed no signs of improvement, agencies report.

The broader price index of Dhaka Stock Exchange (DSE) sunk by 26.90 points to end the session at 4416.90. The two selective indices – blue-chip DS30 and Shariah DSES – also lost to finish the day at 1680.60 and at 1068.60 respectively.

As of Sunday, market remained highly volatile when 199 issues ended lower against only 67 advancing securities. All the major sectors ended in red, with some large-cap stocks suffered abrupt loss on heavy sale pressure.

The most losing scrips were Pharma Aid, Tallu Spinning, Exim 1st MF, Mithun Knitting and MHSML when Standard Ceramic, Aramit, Monno Ceramic, FEKDIL and IPDC were among the top five of the day’s gainers.

The activities also continued to fall on cautious participation of the investors. The daily turnover in value, however, rose marginally to Taka 321 crore from Sunday’s Taka 317.72 crore while the volume fell by nearly 4.0 percent to 7.62 crore shares.

Ifad Autocars topped the turnover list followed by UPGDCL, Squire Pharma, Lafarge Surma and KDS Accessories Limited.  Chittagong Stock Exchange (CSE) also ended lower on Monday, with its major CSCX shedding over 58 points to finish at 8216.12.

Out of the day’s 239 issues traded, only 53 gained and 154 incurred losses when over 64 lakh shares changed hands for Taka 24.37 crore.

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