Stocks end lower with increased turnover

Stocks closed lower on Monday after remaining flat in the previous session as remained followed cautious stance. The market opened with a downbeat note and tried to recover in the middle of the session, but failed amid sale pressure in the late hour, eventually ended lower. DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,630.57 points, shedding 18.70 points or 0.40 per cent after four hours trading. The two others indices also ended in the red. The DS30 index, comprising blue chips, lost 10.99 points or 0.62 per cent to 1,751.21.The DSE Shariah Index (DSES) dropped 6.58 points or 0.58 per cent to finish at 1,109.90. Trading activities, however, crossed Tk4.0 billion-mark and amounted to Tk4.15 billion, which was 27.69 per cent higher than the previous session’s Tk3.25 billion. The losers took a modest lead over the aginers as out of issues traded 320 issues traded, 165 closed lower, 117 higher and 38 remained unchanged on the DSE trading floor. CVO Petrochemical Refinery dominated the day’s turnover chart with shares of Tk 157 million changing hands followed by Lafarge Surma, IFAD Autos, SPCL and KDS Accessories. Paramount Textile was the day’s best performer, posting a rise of 11.30 per cent following its corporate declaration while Jute Spinners was the day’s worst loser, plunging by 16.06 per cent. The port city bourse Chittagong Stock Exchange (CSE) closed in the red with its Selective Categories Index – CSCX – shedding 40.95 points to end at 8,594.90. Losers beat gain gainers 105 to 89, with 33 issues remaining unchanged on the port city bourse that traded 7.74 million shares and mutual fund units with a value of Tk284 million.

--Shuvo--