Stocks witnessed yet another bearish session Tuesday, extending the losing streak for the ten sessions in a row, as investors kept their selling spree on sector-wise issues ahead of Ramadan.
Market operators said the ongoing pessimism and disappointing quarterly earnings results of most of the companies coupled with upcoming holy month of Ramadan, continued to prompt investors to cash in on stocks.
Following the nine days’ price correction, the market opened on a positive note, but failed to sustain as the session progressed. Finally, DSEX fell more than 8.68 points while CSE All Share Price Index lost 23 points at closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 8.68 points or 0.15 per cent to settle at 5,548. DSEX shed more than 265 points in the past 10 consecutive sessions.
The two other indices also maintained the negative trend as the DS30 index, comprising blue chips, fell 3.73 points or 0.18 per cent to finish at 2,072 while the DSE Shariah index lost 0.23 point or 0.02 per cent to settle at 1,300.
The trading activities remained low as the total turnover on the major bourse amounting to Tk 3.55 billion, which was 7.25 per cent higher than the previous day’s turnover of Tk 3.31 billion.
The losers took a modest lead over the gainers as out of 334 issues traded, 152 closed lower, 123 ended higher and 59 issues remained unchanged on the DSE trading floor.
Western Marine Shipyard topped the DSE turnover chart for the fourth day with shares worth nearly Tk 279 million changing hands, closely followed by Beximco, United Power, Legacy Footwear and Queen South Textile.
Queen South Textile was the day’s highest gainer, posting a gain of 9.80 per cent while Shympur Sugar Mills was the day’s worst loser, losing 5.35 per cent.
The port city’s bourse also ended lower with the CSE All Share Price Index – CASPI – shedding 23 points to settle at 17,118 points and Selective Categories Index - CSCX – losing 14 points to finish at 10,348.
Here too, the losers beat the gainers as 121 issues closed lower, 78 ended higher and 33 remained unchanged on the CSE.
The port city bourse traded 6.69 million shares and mutual fund units worth more than Tk 298 million in turnover.
