Stocks slip into red breaking two-day gaining streak

| Updated: October 24, 2017 08:35:38

Stocks slip into red breaking two-day gaining streak

Stocks slipped into the red Wednesday, breaking a two-day positive session, as many investors sold shares to profit as some observed the market carefully.

Brokers said small investors were cautious about fresh exposure to the market, while institutional investors continuously injected money into stocks amid ongoing quarter-end earning disclosures and year-end dividend declarations, taking the market turnover below Tk 6.0 billion-mark once again.

“Selling of shares mostly from banks, telecommunication and textile sectors contributed the fall in indices,” he said.

After see-saw movement of the DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, settled at 6,025, losing 6.46 points or 0.11 per cent over the previous session.

The DS30 index, comprising blue chips also fell 3.62 points or 0.16 per cent to close at 2,178 points.

However, the DSE Shariah Index (DSES) advanced 2.06 points or 0.16 per cent to finish at 1,328.

Turnover, the most important indicator of the market, came down to Tk 5.28 billion, which was 14 per cent lower than the previous day’s turnover of Tk 6.15 billion.

Banking sector kept its dominance in turnover chart, capturing 24 per cent of the day’s total transaction, followed by financial institutions with 13 per cent and engineering 11 per cent.

A total number of 0.118 million trades were executed in the day’s trading session with trading volume of 137.13 million securities.

The total market capitalisation of the DSE stood at Tk 4,061 billion which was Tk 4,058 billion in the previous trading session.

Gainers took a modest lead over the losers as out of 331 issues traded, 155 closed higher, 141 closed lower and 35 remained unchanged on the DSE trading floor.

Aamra Networks topped the day’s turnover chart with 1.51 million shares of Tk 157 million changing hands, closely followed by Brac Bank, ICB, Uttara Bank and LankaBangla Finance.

Wata Chemicals was the day’s best performer, posting a gain of 9.96 per cent while Information Services Networks was the day’s worst loser, plunging by 6.98 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also edged lower with its Selective Categories Index - CSCX –losing 8.95 points to close at 11,308.

Gainers beat losers as 115 issues closed higher, 96 closed lower and 32 remained unchanged on the CSE.

The port city bourse traded 9.51 million shares and mutual fund units worth Tk 264 million in turnover.


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