Stocks extend losing streak for 4th day

Stocks ended lower for the four consecutive days on Sunday with turnover dipping below six- week low as investors continued to remain in selling mood amid cautious stance. The market started with a positive note, but could not sustain as late hour sell pressure wiped off early gain, eventually the market ended marginally lower. The benchmark index of the Dhaka Stock Exchange (DSEX) ended at 4,411.15 points, shedding 25.05 points or 0.56 per cent from previous session. The other two indices also closed in red. The DS30, comprising blue chips lost 9.63 points or 0.59 per cent to close at 1,612.23 points. The DSE Shariah Index (DSES) shed 5.13 points or 0.51 per cent to close at 997.77 points. The turnover came down to Tk 2.15 billion, registering a decline of 18 per cent over the previous session’s value of Tk 2.62 billion. It was also 6-week low turnover since Tk 1.82 billion on May 25. The losers took a strong lead over the gainers as out of 286 issues traded, 159 declined, 81 advanced and 46 remained unchanged on the DSE floor. Beximco Limited was the most traded stocks with shares worth Tk 181.72 million changing hands followed by Appollo Ispat, Generation Next Fashion, GP and Peninsula Chittagong. BD Thai Aluminum was also the day’s highest gainer, posting a rise of 9.30 per cent while National Life Insurance was the day’s worst loser, slumping by 27.51 per cent following its price adjustment after record date. The port city bourse, Chittagong Stock Exchange (CSE) closed lower with its Selective Categories Index – CSCX – lost 59.45 points to close at 8,403.78 points.Losers beat gainers 124 to 44, with 21 issues remaining unchanged at the port city bourse that traded 6.20 million shares and mutual fund units, turnover value of Tk 192.87 million.