Stocks stumble

Stocks returned to the red on Wednesday, after previous session's sharp gain as investors went for selling spree to book quick profit. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 63.66 points or 1.21 per cent to close at 5,170.15. The other two indices also closed lower. The DS30, comprising blue chips, lost 23.05 points or 1.16 per cent to close at 1,948.99. The DSE Shariah Index shed 12.94 points or 1.04 per cent to stand at 1,220.54. However, the total turnover on DSE improved to Tk 7.22 billion, registering an increase of 4.03 per cent over the previous day’s value of Tk 6.94 billion. The losers took a strong lead over the gainers as out of 302 issues traded, 205 declined, 76 advanced and 21 remained unchanged. The total market capitalisation of the DSE came down to Tk 3,381.13 billion against Tk 3,442.21 billion in the previous session. RSRM Steels was the most traded stock with shares worth Tk 418.29 million changing hands followed by KPCL, MJL BD, Titas Gas and Square Pharma. Shahjibazar Power Company was the day's highest gainer, posting a rise of 9.91 per cent while Appollo Ispat was the day's worst loser, slumping by 9.76 per cent following its price adjustment. The port city bourse, Chittagong Stock Exchange (CSE), also returned to the red with its Selective Categories Index – CSCX – losing 100.18 points to close at 9,706.90. Losers beat gainers 160 to 52, with 16 issues remaining unchanged. The port city bourse traded 13.56 million shares and mutual fund units with a turnover value of Tk 501.24 million.