Stocks extend losses for second day

Stocks deflated once again on Wednesday, extending the losing streak to the second session, as a section of investors continued to book profit on sectors-wise stocks.

Market operators the market fell mainly due to the late-hour profit taking selling pressure from the investors.

The market opened on positive note and key index of the prime bourse gained about 22 points within first 25 minutes of trading, but rest of the session went through volatility, finally ended more than 26 points lower.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,833, shedding 26.34 points or 0.45 per cent over the previous session.

Two other indices also closed in the red. The DS30 index, comprising blue chips, fell 4.78 points or 0.21 per cent to finish at 2,191. The DSE Shariah Index (DSES) lost 3.12 points or 0.23 per cent to close at 1,357.

The trading activities also fell sharply by 25 per cent and the total turnover on the DSE amounting to Tk 5.29 billion, which was Tk 7.10 in the previous day.

The losers took a strong lead over the gainers as out of 336 issues traded, 192 closed lower, 115 ended higher and 29 issues remained unchanged on the DSE trading floor.

Beximco continued to dominate the turnover chart with 17.01 million shares worth Tk 529 million changing hands, followed by Keya Cosmetics, Northern Jute Manufacturing Company, Monno Ceramic Industries and IFAD Autos.

Popular Life Insurance was the day’s best performer, posting a gain of 9.75 per cent while Anlimayarn Dyeing was the day’s worst loser, shedding 4.25 per cent.

Port city bourse CSE also closed lower with the CSE All Share Price Index – CASPI – losing more than 80 points to settle at 18,011 and Selective Categories Index - CSCX –shedding 48 points to finish at 10,884 points.

The losers beat the gainers as 143 issues closed lower, 61 ended higher and 23 remained unchanged on the CSE.

The port city bourse traded 9.98 million shares and mutual fund units worth more than Tk 263 million in turnover.