Stocks extend losses for 5th day

Stocks witnessed steep fall Sunday, extending their losing spell for five consecutive sessions in a row with sluggish tunrover as nervous investors went selling frenzy.
The market opened with a positive note, but could not sustain the momentum as the session progress. By the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), dropped 40.68 points or 0.88 per cent lower to settle at 4,542.73.
The two other indices also closed lower. The DS30 index, comprising blue chips, fell 14.84 points or 0.85 per cent to 1,726.25. The DSE Shariah Index (DSES) shed 9.13 points or 0.82 per cent to close at 1,096.22.
Trading activities continued to decline as the total turnover on DSE came down to Tk 2.74 billion, which was 26.72 per cent lower than the previous day’s Tk 3.74 billion.
The losers took a strong lead over the gainers as out of 320 traded issues, 221 closed lower, 62 higher and 37 remained unchanged on the DSE trading floor.
Square Pharma dominated the turnover chart with share of Tk 156 million changing hands followed by Beximco Pharma, Delta Life Insurance, Quasem Drycells and BSRM Steels.
First Bangladesh Fixed Income Fund was the day’s best performer, posting a rise of 8.62 per cent while BIFC was the day’s worst loser, plunging by 9.34 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – plunging 56.13 points to end at 8,448.91.
Losers beat gainers 174 to 45, with 29 issues remaining unchanged on the port city bourse that traded 5.90 million shares and mutual fund units with a value of Tk 184 million.
--Babul/Shuvo--