Stocks end lower as bank shares plunge

Stocks finished marginally lower on Monday as risk-averse investors booked some profits on sector-specific stocks.
However, the daily turnover exceeded Tk 9.0 billion-mark and stood at Tk 9.01 billion on the country's premier bourse once again against Tk 8.92 billion on the previous day.
It was the second highest single-day transaction in the last seven months since November 27, 2017, when the turnover totaled a record Tk 9.28 billion.
The market turnover also scaled Tk 9.0 billion-mark and reached Tk 9.02 billion on July 5 last after seven months.
The market opened on a positive note and the core index was at its peak during first hour of the trading session, but slowed down gradually as the session progressed.
Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,341, losing 24.74 points or 0.46 per cent after gaining 89 points in the past three sessions.
"The negative change in the index is mainly driven by significant negative movement in the bank, food & allied and financial institutions sectors," commented LankaBangla Securities.
The banking sector lost 1.32 per cent with prices of 21 banks closing lower, out of 30 listed banks.
The food & allied and financial institutions sectors also lost 1.70 per cent and 0.80 per cent respectively.
The DS30 index, comprising blue chips, also fell 18.35 points or 0.95 per cent to finish at 1,910. However, the DSE Shariah Index advanced 1.03 points to close at 1,268.
According to International Leasing Securities, food, banking and financial institutions faced selling pressure while some investors took position in June-ending stocks, anticipating better year-end earnings disclosure.
The engineering sector topped the turnover list, grabbing 25 per cent of the day's total turnover, closely followed by textile with 24 per cent and pharmaceuticals 8.0 per cent.
Among other major sectors, power and pharmaceuticals lost 0.60 per cent and 0.20 per cent respectively.
Engineering gained 0.20 per cent while telecommunication closed flat.
Out of 341 issues traded, 164 declined, 141 advanced and 36 issues remained unchanged on the DSE trading floor.
BBS Cables topped the DSE turnover chart with shares worth Tk 424 million changing hands, closely followed by Bashundhara Paper Mills, Legacy Footwear, Singer Bangladesh and Ratanpur Steel Re-rolling Mills.
The port city bourse CSE also ended marginally lower with its CSE All Share Price Index - CASPI - shedding 55 points to settle at 16,461 and the Selective Categories Index - CSCX - losing 34 points to finish at 9,958 points.
Here too, losers beat gainers as 121 issues closed lower, 102 ended higher with 23 issues remaining unchanged.
The port city bourse traded 12.72 million shares and mutual fund units worth more than Tk 441 million in turnover.

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