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Stocks break two-day gaining streak

| Updated: June 21, 2022 16:31:31


Stocks break two-day gaining streak

Stocks slipped into the red on Sunday, snapping a two-day winning streak, as the cautious investors opted for booking profit on quick-gaining issues.

The market opened higher and the key index of the major bourse rose 35 points within the first 10 minutes of trading. But the rest of the session went down steadily, ultimately ending over 19 points lower.

DSEX, the core index of the Dhaka Stock Exchange, went down by 19.26 points or 0.29 per cent to settle at 6,406, after gaining 64 points in the past two days.

Market operators said the cautious investors went to booking some profits on quick-gaining stocks, taking the market index and turnover lower.

The DSE Shariah Index (DSES) also shed 6.14 points to close at 1,397. However, the DSE 30 Index, comprising blue chips, advanced 2.0 points to finish at 2,329.

Turnover, the crucial indicator of the market, also dropped and amounted to Tk 8.95 billion, which was 14.4 per cent lower than the previous day’s one-month highest turnover of Tk 10.46 billion.

Losers took a strong lead over the gainers as out of 382 issues traded, 282 declined, 62 advanced and 38 issues remained unchanged on the DSE trading floor.

Beximco topped the turnover list with shares worth Tk 1.12 billion changing hands, followed by Bangladesh Shipping Corporation (Tk 462 million), Shinepukur Ceramics (Tk 450 million), RAK Ceramics (Tk 252 million) and Saif Powertec (Tk 219 million).

Meghna Insurance was the top gainer, posting a 9.84 per cent gain while CAPM IBBL Islamic Mutual Fund was the day’s worst loser, losing 2.0 per cent.

The Chittagong Stock Exchange (CSE) also edged lower with the CSE All Share Price Index – CASPI –losing 29.98 points to settle at 18,868 and the Selective Categories Index – CSCX – shedding 17.71 points to close at 11,312.

Of the issues traded, 196 declined, 63 advanced and 34 issues remained unchanged on the CSE.

The port city’s bourse traded 7.69 million shares and mutual fund units with a turnover value worth nearly Tk 242 million.

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