Stocks plunge for third day

Stocks extended losing streak for the third running session on Tuesday as investors went for panic sell-offs, fearing further fall. The market opened with a falling mood, which sustained throughout the session as investors feared further fall in the market. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), plunged 44.14 points or 0.92 per cent to settle at 4,724.51. The two other indices also fell sharply. The DS30 index, comprising blue chips, lost 20.68 points or 1.13 per cent to finish at 1,806.29. The DSE Shariah Index (DSES) shed 11.11 points or 0.94 per cent to end at 1,165.37. Total turnover on DSE improved to Tk 4.21 billion, which was 20 per cent higher than the previous day’s Tk 3.51 billion as the new issue Aman Feed alone accounted for around 19.52 per cent of day’s total turnover. The losers took a strong lead over the gainers as out of 317 issues traded, 166 closed lower, 106 higher and 45 remained unchanged on the DSE trading floor. Aman Feed, which made trading debut today, dominated the day’s turnover chart with shares of Tk 822.67 million changing hands followed by National Feed Mills, Square Pharma, Lafarge Surma Cement and SPCL. Anwar Galvanizing was the day’s best performer, posting a rise of 9.83 per cent while Southeast Bank First Mutual Fund was the day’s worst loser, plunging by 9.78 per cent.  The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – lost 53.89 points to end at 8827.76. Losers beat gainers 151 to 61, with 25 issues remained unchanged on the port city bourse that traded 10.36 million shares and mutual fund units with a value of Tk 439 million.
 
---RMC--