Stocks extend losing spell, turnover dips further

Stocks extended their losing spell for the third straight sessions on Wednesday with turnover falling further as most of the investors remained cautious.
The market opened with a downbeat note and the negative vibe sustained till end of the session amid modest volatility. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 9.96 points or 0.21 per cent to finish at 4,579.37.
The two other indices also ended lower. The DS30 index, comprising blue chips, lost 4.85 points or 0.27 per cent to end at 1,730.84. The DSE Shariah Index (DSES) shed 4.43 points or 0.40 per cent to settle at 1,097.18.
Turnover came down to Tk 2.62 billion, which was 12 per cent lower that the previous session’s Tk 2.97 billion.
The losers took a modest lead over the gainers as out of 315 traded issues, 147 closed lower, 123 ended higher and 45 remained unchanged on the DSE trading floor.
Singer BD dominated the day’s turnover chart following its 40 per cent interim cash dividend declaration with shares of Tk 130 million changing hands. It was followed by Lafarge Surma Cement, KDS Accessories, C&A Textile and United Airways.
Delta Spinner was the day’s best performer, posting a rise of 10 per cent while Far Chemical was the day’s worst loser, plunging by 22.06 per cent.
The port city bourse Chittagong Stock Exchange (CSE) edged lower with its Selective Categories Index – CSCX – losing 15.12 points to end at 8,515.05.
Losers beat gain gainers 117 to 77, with 41 issues remaining unchanged on the port city bourse that traded 7.56 million shares and mutual fund units with a value of Tk 224.40 million.
-Babul/RMC-