Stocks extend losing spell for second day

Dhaka,  Sun,  24 September 2017
Published : 17 Aug 2017, 17:29:04
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Stocks extend losing spell for second day

Stocks extended their losing spell for the second day in a row on Thursday, as cautious investors continued on profit booking mood on quick-gaining stocks.

Dealers said investors continued pocketing profit on stocks that saw substantial gains in the past few weeks.

The market opened with a positive note, crossing the key index of the major bourse 5,900-mark within the first 30 minutes of trading.

But the momentum could not sustain as the session progressed and finally ended more than 22 points lower.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN four-and-a-half-years ago, went down by 22.12 points or 0.37 per cent to settle at 5,861 points.

The DS30, comprising blue chips, also fell 3.23 points or 0.15 per cent to close at 2,109 points.

However, the DSE Shariah Index (DSES) advanced 0.26 points or 0.02 per cent to finish at 1,304 points.

The turnover, an important indicator of the market, stood at Tk 8.32 billion on the DSE, which was 0.48 per cent higher than the previous day’s mark of Tk 8.36 billion.

The losers took a strong lead over the gainers as 331 issues traded, 155 closed lower, 129 closed higher and 47 remained unchanged on the DSE trading floor.

The newly listed BBS Cables dominated the DSE turnover with about 3.34 million shares of Tk 436 million changing hands, closely followed by IFAD Autos, IBN Sina, Salvo Chemicals and IFIC Bank.

Monno Ceramics was also the day’s highest gainer, posting a 9.85 per cent rise, while Padma Life Insurance was the worst loser, plunging 4.79 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index - CSCX – losing 40.47 points to settle at 11,002 points.

Gainers beat losers as 119 issues closed gainer, 113 closed lower and 30 remained unchanged on the CSE.

The port city bourse traded 15.64 million shares and mutual fund units’ worth Tk 462 million in turnover.

 
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