Stocks slip into red after single-session break

Dhaka,  Sun,  24 September 2017
Published : 17 May 2017, 15:42:54
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Stocks slip into red after single-session break

Stocks slip into red after single-session break
FE Online Report
Stocks slipped into the red on Wednesday, after a single-session break, as late hours sale pressure wiped out all of the early gains.

Brokers said despite the market started the session with an optimistic mood, it failed to continue momentum as investors booked profit from sector specific stocks.

However, active participation of investors from both sides of the trading fence pushed the market turnover to Tk 6.84 billion, which was 21 per cent higher than the previous day’s Tk 5.63 billion.

Following the previous day’s marginal gain, the market opened higher and the key index of the major bourse gained nearly 20 points within first hour of trading, but profit booking sale pressure eroded all the early gains.

Finally, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), settled at 5,429.66 points, shedding 6.02 points or 0.11 per cent over the previous session.

However, the two other indices managed to stay positive.

The DS30 index, comprising the blue-chips, advanced 4.34 points or 0.21 per cent to finish at 2,002. The DSE Shariah Index (DSES) also saw a fractional gain of 0.22 point or 0.02 per cent to close at 1,258.62.

Losers took a modest lead over the gainers as out of 327 issues traded, 155 declined, 120 advanced and 52 remained unchanged on the DSE trading floor.

IFAD Autos dominated the turnover chart with 5.70 million shares worth Tk 761 million changing hands, followed by Bangladesh Shipping Corporation, Paramount Textile, Doreen Power and LankaBangla Finance.

Bangladesh Autocars was the day’s top gainer, posting a rise of 9.09 per cent while Fareast Finance and Investment was the worst loser, slumping by 7.15 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also edged lower with its Selective Categories Index – CSCX – losing 10.22 points to settle at 10,192.

Losers beat gainers as 131 issues closed lower, 88 closed higher and 27 remained unchanged on the CSE.

The port city bourse traded 12.13 million shares and mutual fund units worth nearly Tk 430 million in turnover.

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