Stocks slide after two-day gain


FE ONLINE REPORT | Published: December 29, 2021 15:54:20 | Updated: December 29, 2021 23:50:18


Stocks slide after two-day gain

Stocks ended marginally lower on Wednesday after choppy trading as investors remained cautious ahead of year-end adjustment and concern over new coronavirus variant Omicron.

The market moved between positive and negative several times throughout the session before closing marginally lower.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 11.48 points or 0.17 per cent to settle at 6,731, after gaining 112 points in the previous two days.

Two other indices also edged lower with the DSE 30 Index, comprising blue chips, shedding 1.46 points to finish at 2,522 and the DSE Shariah Index (DSES) losing 4.19 points to close at 1,427.

Turnover, a crucial indicator of the market, dropped to Tk 7.35 billion, which was 15.7 per cent lower than the previous day’s tally of Tk 8.72 billion.

Market analysts said investors were struggling with a lack of confidence amid concern over omicron while the deteriorating situation between Bangladesh Bank and Bangladesh Securities and Exchange Commission regarding some policy issues affected their sentiments.

Losers took a modest lead over the gainers, as out of 377 issues transacted, 196 declined, 133 advanced and 48 remained unchanged on the DSE trading floor.

Bangladesh Shipping Corporation was the most traded stock with shares worth Tk 515 million changing hands, closely followed by Beximco, Bangladesh Submarine Cable Company, Beacon Pharma and ONE Bank.

Alif Industries was the highest gainer, soaring 10 per cent while Savar Refractories was the day’s worst loser, losing 5.20 per cent.

The Chittagong Stock Exchange (CSE) also edged lower with the CSE All Share Price Index – CASPI –losing 17 to settle at 19,621 and the Selective Categories Index – CSCX-- shedding 12 points to close at 11,788.

Of the issues traded, 138 declined, 119 advanced and 37 remained unchanged on the CSE.

The port city bourse traded 17.01 million shares and mutual fund units with a turnover value of Tk 533 million.

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