Stocks down for 5th straight session

The stock market extended the losing streak for the fifth consecutive session Wednesday with turnover improved slightly as investors remained cautious to make fresh investments.
The market opened with a negative note and the downtrend continued till the market closure. At the end of the session, the prime index of the Dhaka Stock Exchange (DSEX) ended at 4,519.02 points, shedding 35.76 points or 0.78 per cent from previous session. The other two indices also closed lower. The DS30, comprising blue chips lost 11.67 points or 0.71 per cent to close at 1,624.31 points. The DSE Shariah Index (DSES) went down by 11.31 points or 1.13 per cent to close at 983.70 points. Turnover value on DSE stood at Tk 3.38 billion, registering 4.97 per cent increase over the previous session’s value of Tk 3.22 billion. The losers took a strong lead over the gainers as out of 298 issues traded, 208 declined, 61 advanced and 29 issues closed unchanged on the DSE floor. The market capitalisation of the DSE stood at Tk 2,838.64 billion against Tk 2,854.52 billion in the previous session. Emerald Oil Industries, which made debut today (Wednesday), became the top turnover leaders with shares worth Tk 361.29 million changing hands followed by Square Pharma, BSC, Lafarge Surrma Cement and Padma Oil. Emerald Oil Industries was also the day’s highest gainer; posting a rise of 400 per cent ---each share of the Emerald Oil closed at Tk 50 from its issue price of Tk 10. United Leasing Company was the day’s worst losers, slumping by 11.46 per cent following its price adjustment after record date. The port city bourse --- the Chittagong Stock Exchange (CSE) also ended lower with its Selective Categories Index – CSCX-- lost 76.93 points to close at 8,776.35 points. Losers beat gainers 170 to 34, with 20 issues remaining unchanged at the port city bourse that traded 7.45 million shares and mutual fund units, turnover value of Tk 378.75 million.