The Financial Express

Stocks slip into red after five-day winning streak

DSE daily turnover slumps 15pc

| Updated: December 10, 2020 16:30:41

Stocks slip into red after five-day winning streak

Stocks slipped into the red on Tuesday, snapping a five-day winning streak, as risk-averse investors opted for booking profit on sector-wise issues.

DSEX, the prime index of the Dhaka Stock Exchange DSE), went down by 3.69 points or 0.07 per cent to settle at 5,049, after gaining 187 points in the past five consecutive sessions.

Two other indices also edged lower. The DS30 index, comprising blue chips, fell 2.98 points to finish at 1,760 and the DSE Shariah Index lost 1.23 points to close at 1,158.

Market analysts said stocks witnessed a mild correction as cautious investors opted for booking profit on stocks which saw a substantial gain in the past five days' rally.

However, the optimistic investors continued their buying binge on sector-wise issues, as their perception remained positive on the market, riding on regulatory moves and gradual improvement of economic activities, said a merchant banker.

Turnover, a crucial indicator of the market, also fell to Tk 7.19 billion, which was 15 per cent lower than the previous day’s turnover of Tk 8.48 billion.

Losers took a modest lead over the gainers as out of 355 issues traded, 136 ended lower, 127 higher and 92 issues remained unchanged on the DSE trading floor.

A total number of 153,382 trades were executed in the day’s trading session with a trading volume of 288.87 million shares and mutual fund units.

The market capitalisation of DSE rose to Tk 4,048 billion on Tuesday, from Tk 4,045 billion in the previous day.

Beximco topped the turnover list with 14.36 million shares worth Tk 409 million changing hands, closely followed by Republic Insurance, Beximco Pharma, Rupali Insurance and IFIC Bank.

The newly listed Dominage Steel Building Systems was the day’s best performer, posting a gain of 9.96 per cent while Appollo Ispat was the worst loser, losing 9.67 per cent.

The Chittagong Stock Exchange also edged lower with its All Shares Price Index (CASPI)—losing 23 points to close at 14,472 while the Selective Categories Index – CSCX falling 13 points to close at 8,713.

Of the issues traded, 103 declined, 98 advanced and 58 remained unchanged on the CSE.

The port city bourse traded 11.65 million shares and mutual fund units with a turnover value of more than Tk 322 million.

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