Stocks continue to decline for third consecutive day

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FE Report
The stock prices on the Dhaka Stock Exchange (DSE) continued to decline for the third consecutive day Tuesday due to cautious trading by the investors.
The cautious trading brought down the share prices of most of the banking, insurance and pharmaceutical sectors.
As a result, both the total turnover and the total market capitalisation on the DSE declined Tuesday compared to the previous day.Market operators said traditionally, trading on the stock market declines during the holy month of Ramadan, as the investors remain busy in other activities.
"Moreover, correction of some overheated shares has been continuing. Recently, prices of some shares shot up due to speculation," said a Chief Executive Officer (CEO) of a brokerage house.
All Shares Price Index (DSI), DSE-20 Index (DS20) and DSE General Index (DGEN) declined 4.871 points, 3.936 points and 2.012 points to close at 2073.060, 1994.943 and 2509.635 respectively.
The total turnover declined to Tk 1.053 billion from its previous Tk 1.092 billion. The total market capitalisation also dropped to Tk 589.344 billion from Tk 590.484 billion on the previous day Monday.
Out of 201 traded issues prices of 80 gained, 96 declined and 25 remained unchanged.
BRAC Bank maintained its position as the turnover leader with traded shares worth Tk 150.755 million followed by AB Bank Tk 63.346 million, UCBL Tk 61.981 million, Power Grid Tk 48.742 million, Desco Tk 43.564 million, Southeast Bank Tk 42.844 million, Summit Power Tk 36.750 million, Square Pharma Tk 34.107 million, Union Capital Tk 32.336 million and AIMS First Mutual Fund Tk 30.098 million.
Prices of BRAC Bank declined 1.83 per cent to Tk 1241.00, AB Bank 1.76 per cent to Tk 2230.75, Square Pharma 1.47 per cent to Tk 3200.50, UCBL gained 2.26 per cent to Tk 4399.75, Power Grid 1.09 per cent to Tk 622.75, Desco 0.15 per cent to Tk 1142.75, Southeast Bank 0.59 per cent to Tk 503.25, Summit Power 3.15 per cent to Tk 1382.00, Union Capital 1.37 per cent to Tk 44.10, AIMS 0.66 per cent to Tk 6.10.