Stocks return to red amid low turnover

Stocks returned to the red Thursday after two session’s robust gain with sluggish turnover value as the investors remained cautious. The market opened with an upward trend which could not sustain as the session progressed. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) came down below the 5,000-mark again and closed at 4,984.46 points, shedding 21.19 points or 0.42 per cent. The other two indices also edged lower. The DS30, comprising blue chips dropped 10.78 points or 0.57 per cent to close at 1,860.15 points. The DSE Shariah Index declined 5.47points or 0.46 per cent to close at 1,174.54 points. The total turnover on DSE dropped to Tk 6.94 billion, registering a decline of 17.96 per cent over the previous day’s turnover of Tk 8.46 billion. Losers outpaced gainers as as out of 297 issues traded, 152 declined, 112 advanced and 33 remained unchanged on the DSE floor. Jamuna Oil was the most traded stock with shares worth Tk 328.79 million changing hands followed by Western Marine Shipyard, Beximco, Aamra Technologies and Olympic Industries. Pharma Aids was the day’s highest gainer, posting a rise of 16.36 per cent following its corporate declaration of 25 per cent cash dividend while Beacon Pharma was the day’s worst loser, slumping by 10 per cent. The port city bourse, Chittagong Stock Exchange (CSE) also saw a marginal decline with its Selective Categories Index – CSCX – lost 35.28 points to close at 9,373.42 points. Losers beat gainers 117 to 84, with 25 issues remaining unchanged at the port city bourse that traded 12.72 million shares and mutual fund units, turnover value of Tk 503.09 million.