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Stocks keep losing for four straight sessions

FE Online Report | Published: December 10, 2019 15:57:07 | Updated: December 12, 2019 11:32:50


Stocks extended the losing streak for the four straight sessions on Tuesday as worried investors continued their selling binge amid growing concern over the country’s microeconomic situation.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settle at 4,506, shedding 26.81 points or 0.59 per cent. DSEX has lost a cumulative 196 points in four sessions.

Market analysts said the investors had been suffering lack of confidence for a long while disappointing data of some macroeconomic indicators affecting investors’ confidence badly.

The news of falling private sector credit growth, soaring non-performing loan, declining export earning and negative portfolio investment made investors frustrated, said an analyst at a leading broker firm.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 13.13 points to finish at 1,548 and the DSE Shariah Index fell 9.97 points to close at 1,012.

Turnover, a crucial indicator of the market, however, rose to Tk 3.05 billion, which was 11 per cent increase over the previous day.

Losers took a strong lead over the gainers as out of 353 issues traded, 203 closed lower, 96 ended higher and 54 remained unchanged on the DSE trading floor.

A total number of 102,216 trades were executed in the day’s trading session with trading volume of 109.99 million shares and mutual fund units.

The market-cap of the DSE also dropped to Tk 3,428 billion on Tuesday, from Tk 3,446 billion in the previous session.

Square Pharma topped the turnover chart for the second straight day with shares worth Tk 125 million changing hands, closely followed by Saiham Cotton Mills, Sonar Bangla Insurance, Sinobangla Industries and Daffodil Computers.

Miracle Industries was the day’s best performer, posting a gain of 7.80 per cent while Sonar Bangla Insurance was the worst loser, losing 8.72 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended lower with its All Shares Price Index (CASPI)—losing 145 points to close at 13,683 and the Selective Categories Index - CSCX –shedding 89 points to finish at 8,301.

Here too, the losers beat gainers, as 143 issues closed lower, 60 ended higher and 36 remained unchanged on the CSE.

The port city bourse traded 10.74 million shares and mutual fund units worth Tk 250 million in turnover.

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