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The Financial Express

Stocks snap two-day winning streak

FE Online Report | Published: February 04, 2020 16:06:07 | Updated: February 06, 2020 11:21:45


Stocks snap two-day winning streak

Stocks slipped into the red on Tuesday, snapping a two-day winning streak, as risk-averse investors went on selling binge on sector-wise issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 27.48 points or 0.60 per cent to settle at 4,479 over the previous day.

Market analysts said the cautious investors went on selling spree on sector-wise large-cap shares after quarterly earnings declaration, taking the market in the red zone.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 9.86 points to close at 1,526 and the DSE Shariah Index lost 3.48 points to finish at 1,031.

Turnover, a crucial indicator of the market, amounted to Tk 4.53 billion, which was 10 per cent lower than the previous day’s turnover of Tk 5.06 billion.

Losers took a modest lead over the gainers as out of 356 issues traded, 177 closed lower, 131 ended higher and 48 remained unchanged on the DSE trading floor.

A total number of 137,782 trades were executed in the day’s trading session with trading volume of 172.56 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,425 billion, from Tk 3,445 billion in the previous session.

LafargeHolcim continued to top the turnover chart with shares worth Tk 255 million changing hands, followed by BBS Cables, Summit Power, Square Pharma and Grameephone.

Gemeni Sea was the day’s best performer, posting a gain of 9.97 per cent while Dacca Dyeing was the worst loser, losing 8.82 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also closed lower with its All Shares Price Index (CASPI)—losing 69 points to close at 13,642 and the Selective Categories Index - CSCX –shedding 42 points to finish at 8,269.

Here too, the losers beat gainers, as 132 issues closed lower, 88 ended higher and 27 remained unchanged on the CSE.

The port city bourse traded 8.98 million shares and mutual fund units worth Tk 182 million in turnover.

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