Stocks break gaining streak after four-day

| Updated: April 28, 2022 17:36:50

Stocks break gaining streak after four-day

Stocks slipped into the red on Monday, snapping a four-day winning streak, as the risk-averse investors opted for booking profit on quick-gaining issues.

The market opened lower and the downward trend continued until the end of the session, eventually ending over 16 points lower.

DSEX, the prime index of Dhaka Stock Exchange, went down by 16.32 points or 0.24 per cent to settle at 6,666, after gaining 201 points in the past four consecutive sessions.

Turnover, a crucial indicator of the market, also dropped to Tk 5.93 billion on the country’s premier bourse, falling by 34 per cent over previous day’s mark of Tk 8.95 billion.

Market analysts said as many stock prices went up sharply in the past four days backed by institutional support, the cautious investors favoured engaging in profit booking.

Two other indices also ended lower. The DSE30 Index, comprising blue chips, shed 9.55 points to finish at 2,476 and the DSE Shariah Index (DSES) fell 6.90 points to close at 1,454.

Of the 378 issues traded, 222 declined, 113 advanced and 43 issues remained unchanged on the DSE trading floor.

IPDC Finance topped the turnover list with shares of Tk 339 million changing hands, followed by Beximco (Tk 281 million), Orion Pharma (Tk 223 million), Bangladesh Shipping Corporation (Tk 220 million), and Square Pharma (Tk 152 million).

The insurance sector dominated the gainer’s with eight out of top 10 gainers were came from insurance sector with United Insurance was the day’s top gainer list, posting a 7.85 per cent gain, while BD Monospol Paper was the day’s worst loser, losing 4.98 per cent.

The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index - CASPI –losing 46.68 points to settle at 19,599 and the Selective Categories Index - CSCX –falling 28 points to close at 11,761.

Of the issues traded, 147 declined, 99 advanced and 30 issues remained unchanged on the CSE.

The port-city bourse traded 8.09 million shares and mutual fund units with turnover value worth Tk 200.50 million.

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