Stocks slip for 3rd day

Stocks closed lower for the third consecutive session Monday with sluggish turnover as the investors went for selling mood amid cautious stance. 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 4,917.42 points, shedding 46.47 points or 0.93 per cent. The other two indices also edged lower. The DS30, comprising blue chips dropped 22.68 points or 1.22 per cent to close at 1,829.97 points. The DSE Shariah Index declined 10.19 points or 0.87 percent to close at 1,156.57 points. The total turnover on DSE dropped to Tk 6.91 billion, registering a decline of 8.23 per cent over the previous day’s turnover of Tk 7.53 billion. Losers outpaced gainers as out of 304 issues traded, 200 declined, 68 advanced and 36 remained unchanged on the DSE floor. SPCL was the most traded stock with shares worth Tk 547.58 million changing hands followed by Western Marine Shipyard, Jamuna Oil, DESCO and Titas Gas. JMI Syringe was the day’s highest gainer, posting a rise of 9.95 per cent while Agni Systems was the day’s worst loser, slumping by 13.37 per cent. The port city bourse, Chittagong Stock Exchange (CSE) also saw correction with its Selective Categories Index – CSCX – lost 70.18 points to close at 9,290.06 points. Losers beat gainers 152 to 48, with 25 issues remaining unchanged at the port city bourse that traded 10.52 million shares and mutual fund units, turnover value of Tk 447.02 million