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Stocks plunge amid lackluster trade

WT24 Desk

Share prices at Dhaka and Chittagong stock exchanges plunged further amid lackluster trade, with investors maintaining cautious stand ahead of finalisation of the national budget for 2016-17 financial year, agencies report.  The broader index of Dhaka Stock Exchange (DSE) fell for the second consecutive day of the week on Monday as it finished 18.78 points down at 4369.01.

The blue-chip DS30 and the Shariah DSES followed the same trend finishing the day 11.34 points down at 1713 and 4.97 points down at 1075.77 respectively. Chittagong Stock Exchange (CSE) also closed the second day of the week downward, with its major CSCX index closing about 46 points down at 8177.77. Amid the lackluster trade, the daily turnover in volume at DSE was 11.85 percent down at 8.09 crore shares, but the daily trade value rose marginally to Taka 328.34 crore because of voluminous transaction of some large-cap securities.

Among the traded 320 issues at DSE, 179 closed lower against 73 gaining issues. At CSE, 141 issues lost when 56 finished the day higher. The major losing sectors were bank, cement, pharmaceuticals and telecom when food and allied sector advanced marginally.

The top five gaining companies were National Feeds, Global Harvest, Pragati Insurance, Salvo Chemical Industry and Apex Tannery. The major losers included Agrani Insurance, Doreen Power, FBFIF, Quasem Drycell and Orion Infusion.

ACMELAB topped the turnover leaders followed by BBS, Square Pharma, Doreen Power and GPH Isphat.

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