Stocks edge lower with high turnover

Stocks extended their losing spell for the fourth running sessions on Thursday with improving turnover as investors were active both side of trading. The market opened with an upbeat note, but could not sustain till closed the session. DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled the week at 4,564.48, after slipping 14.88 points or 0.32 per cent. The two others indices also ended in the red. The DS30 index, comprising blue chips, lost 4.86 points or 0.28 per cent to 1,725.97.The DSE Shariah Index (DSES) shed 4.88 points or 0.44 per cent to finish at 1,092.30. However, DSE turnover improved to Tk4.56 billion, which was 74 per cent higher than the previous session’s nearly eight months lowest turnover of Tk2.62 billion. The losers took a modest lead over the gainers as out of 319 traded issues, 151 closed lower, 114 higher and 54 remained unchanged on the DSE trading floor. Khulna Power Company dominated the day’s turnover chart with shares of Tk184 million changing hands followed by Square Pharma, SPCL, IFAD Autos and ACI. Samorita Hospital was the day’s best performer, posting a rise of 9.98 per cent while Savar Refactories was the day’s worst loser, plunging by 14 per cent. The port city bourse Chittagong Stock Exchange (CSE) closed lower with its Selective Categories Index – CSCX – losing 24.17 points to end at 8,488.73. Losers beat gain gainers 134 to 68, with 32 issues remaining unchanged on the port city bourse that traded 8.62 million shares and mutual fund units with a value of Tk266 million.

--Shuvo--