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Stocks extend losses as major sectors tumble

FE ONLINE REPORT | Published: November 14, 2019 18:10:35 | Updated: November 17, 2019 10:39:21


Stocks extended the losing streak for the third straight session on Thursday as worried investors continued their selling binge on major sectors shares.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 26.80 points or 0.56 per cent to settle at 4,710 over the previous day.

Market analysts said the investors’ confidence got battered, which triggered sell-off again on large-cap sectors, particularly on pharmaceuticals, telecom, power and banking.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 8.80 points to finish at 1,638 and the DSE Shariah Index shed 6.94 points to close at 1,080.

Turnover, a crucial indicator of the market, also fell to Tk 3.19 billion, which was more than 18 per cent lower than the previous day’s turnover of Tk 3.90 billion.

Losers took a modest lead over the gainers as out of 345 issues traded, 154 closed lower, 132 ended higher and 59 remained unchanged on the DSE trading floor.

A total number of 100,565 trades were executed in the day’s trading session with trading volume of 114.80 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,549 billion on Thursday, from Tk 3,568 billion in the previous session.

Renata Ltd topped the turnover chart with shares worth Tk 141 million changing hands, followed by National Tubes, Square Pharma, Fortune Shoes, and Sonar Bangla Insurance.

National Feed Mills was the day’s best performer, posting a gain of 9.88 per cent while Khulna Printing & Packaging was the worst loser, losing 8.49 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended lower with its All Shares Price Index (CASPI)—losing 89 points to close at 14,327 and the Selective Categories Index - CSCX –falling 52 points to finish at 8708.

Here too, losers beat gainers as 133 issues closed lower, 80 ended higher and 27 remained unchanged on the CSE.

The port city bourse traded 38.18 million shares and mutual fund units worth nearly Tk 1.11 billion in turnover.

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