Stocks return to red amid shutdown

Stocks returned to the red Sunday after previous session’s gain as the investors went for selling spree amid countrywide shutdown enforced by Bangladesh Jamaat-e-Islami. Despite the countrywide shutdown, the market opened with a positive mood, but could not sustain as the session progressed. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 5,105.22 points, shedding 68.01 points or 1.31per cent. The other two indices also closed in the red. The DS30, comprising blue chips lost 31.38 points or 1.60 per cent to close at 1,918.09 points. The DSE Shariah Index dropped 15.30 points or 1.25 per cent to close at 1,204.73 points. The total turnover on DSE stood at Tk 7.32 billion, which was 1.10 per cent higher from the previous session’s value of Tk 7.24 billion. The losers took a strong lead over the gainers as out of 306 issues traded, 204 declined, 71 advanced and 31 remained unchanged on the DSE floor. The total market capitalization of the DSE stood at Tk 3,373.15 billion against Tk 3,398.76 billion in the previous session. The newly listed Western Marine Shipyard was the most traded stock with shares worth Tk 885.33 million changing hands followed by Saif Powertec, SPCL, KPCL and BEDL. Western Marine Shipyard was also the day’s highest gainer, posting a rise of 79.14 per cent while Daffodil Computer was the day’s worst loser, slumping by 24.16 per cent following its no dividend declaration. The port city bourse, Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – lost 151.80 points to close at 9,549.46 points. Losers beat gainers 170 to 36, with 13 issues remaining unchanged at the port city bourse that traded 17.31 million shares and mutual fund units, turnover value of Tk 751.58 million.