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The Financial Express

Bourses extend losses as major sectors tumble

| Updated: September 21, 2020 18:49:10


Traders, wearing masks, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Traders, wearing masks, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks extended the losing streak for the third straight session on Monday as risk-averse investors preferred to book quick-profit on major sectors issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 76.74 points or 1.50 per cent to settle at 5,012 over the previous day.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 25.90 points to finish at 1,726 and the DSE Shariah Index fell 15.26 points to close at 1,138.

Turnover, a crucial indicator of the market, fell below Tk 10 billion-mark again and amounted to Tk 9.77 billion, which was 11 per cent lower than the previous day’s turnover of Tk 11.03 billion.

Market analysts said the cautious investors continued to book profit on majors sectors’ issues which saw substantial gains the past few weeks.

Walton Hi-Tech Industries news, which is set to make its debut on Wednesday, also created some sell-pressure in the market as investors created a fund to grab the newly listed stock, an analyst said wishing anonymity.  

The prime bourse witnessed a natural correction, as some investors intended to realise the profit generated from the previous few days' trading, said a merchant banker.

Losers outnumbered the gainers today as out of 355 issues traded, 259 closed lower, 82 ended higher while 14 issues remained unchanged on the DSE trading floor.

A total number of 210,880 trades were executed in the day’s trading session with a volume of 489 million shares and mutual fund units.

The market-cap on the premier bourse also fell to Tk 3,795 billion on Monday, from Tk 3,839 billion in the previous session.

Delta Brac Housing Finance topped the turnover chart with shares worth Tk 266 million changing hands, closely followed by Beximco, Rupali Insurance, Beximco Pharma and Purabi General Insurance.

The mutual fund sector dominated the gainer chart as eight out of top 10 gainers were mutual funds while insurance sector dominated the top losers chart.

ICB Employees Provident Mutual Fund 1 was day's best performer, posting a gain of 10 per cent while Provati Insurance was the worst loser, dropping 10 per cent.

The Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI) losing 209 points to close at 14,319 and the Selective Categories Index (CSCX) slumping 126 points to close at 8,597.

Of the issues traded, 184 declined, 85 advanced and 17 remained unchanged on the CSE.

The port city bourse traded 20.65 million shares and mutual fund units with turnover value of Tk 312 million.

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