The Financial Express

Stocks slip into red after two-day

DSE daily turnover drops 12pc

| Updated: September 17, 2020 20:58:53

Lankabangla and Fianancial Express Lankabangla and Fianancial Express
Stocks slip into red after two-day

Stocks slipped into the red on Thursday, snapping a two-day gaining 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 12.15 points or 0.23 per cent to settle at 5,104, after gaining 24 points in the past two consecutive sessions.

Market analysts said stocks edged lower as cautious investors opted for booking profit following the recent price surge.

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

Turnover, a crucial indicator of the market, stood at Tk 10.13 billion, which was nearly 12 per cent lower than the previous day’s turnover of Tk 11.47 billion.

Two other indices also edged lower. The DS30 index, comprising blue chips, lost 2.51 points to finish at 1,761 and the DSE Shariah Index fell 5.77 points to close at 1,163.

Losers outnumbered the gainers as out of 354 issues traded, 210 closed lower, 107 ended higher while 37 issues remained unchanged on the DSE trading floor.

A total number of 204,832 trades were executed in the day’s trading session with a trading volume of 365.43 million shares and mutual fund units.

The market-cap on the premier bourse also fell to Tk 3,856 billion on Thursday, from Tk 3,867 billion in the previous session.

Monno Ceramic Industries topped the turnover chart with shares worth Tk 351 million changing hands, followed by Brac Bank, Beximco Pharma, Delta Brac Housing Finance and Nitol Insurance.

Republic Insurance was the best performer, posting a gain of 9.85 per cent while GQ Ball Pen was the worst loser, losing 8.73 per cent after the securities regulator formed an inquiry committee to investigate its unusual price hike.

The Chittagong Stock Exchange also ended marginally lower with its All Shares Price Index (CASPI)—losing 17 points to close at 14,573 and the Selective Categories Index – CSCX shedding 14 points to close at 8,756.

Of the issues traded, 147 declined, 89 advanced and 42 remained unchanged on the CSE.

The port city bourse traded 15.17 million shares and mutual fund units with turnover value of Tk 271 million.

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