Stocks extend losses for 7th day

Dhaka,  Thu,  17 August 2017
Published : 15 May 2017, 15:44:27 | Updated : 15 May 2017, 15:44:33
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Stocks extend losses for 7th day

Stocks extend losses for 7th day
FE Online Report
Stocks extended their losing streak for the 7th straight session on Monday as risk-averse investors continued cash in on stocks to safeguard their position.

Brokers said the ongoing pessimism kept investors mostly inactive, bringing the turnover further low while some investors followed ‘wait-and-see’ strategy ahead of national budget announcement.

The market started with a downward trend which continued till end of the session with no sign of reversal, finally ended 32 points lower.

DSEX, the prime index of the DSE, finished at 5,428, losing 32.01 points or 0.58 per cent over the previous session. DSEX lost about 117 points in the past seven consecutive sessions.

Turnover, the crucial indicator of the market, came down to Tk 5.38 billion which was 2.18 per cent lower than the previous session’s Tk 5.50 billion.

Losers took a strong lead over the gainers, as prices of 172 securities declined, 112 advanced and 42 remained unchanged out of the 42 issues that were traded on the DSE floor.

Paramount Textile topped the DSE turnover chart with about 6.81 million shares worth nearly Tk 203 million changing hands, closely followed by Shahjibazar Power, LankaBangla Finance, Doreen Power and Ratanpur Steel.

Purabi General Insurance Company was the day’s highest gainer, posting 9.74 per cent gain, while Central Insurance was the worst loser, shedding 9.09 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index - CSCX – losing more than 54 points to settle at 10,197 points.

 Losers beat gainers as 138 issues closed lower, 80 closed higher and 20 remained unchanged on the CSE.

The port city bourse traded 10.47 million shares and mutual fund units’ worth over Tk 292 million in turnover.

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