Stocks snap three-day winning streak on Monday

Stocks slipped into the red on Monday, snapping a three-day gaining streak, as risk-averse investors went on selling binge on sector-wise issues.

DSEX, the prime index of the Dhaka Stock Exchange, went down by 35.18 points or 0.77 per cent to settle at below 4,500-mark to 4,493, after adding 120 points in the past three sessions.

Market analysts said cautious investors were on selling mood on sector-wise shares which saw substantial gain in the past three trading sessions.

The DS30 index, comprising blue chips, also fell 4.62 points to finish at 1,541. The DSE Shariah Index also lost 3.50 points to close at 1,031.

Turnover, another important indicator of the market, stood at Tk 4.04 billion, which was 2.42 per cent lower than the previous day’s turnover of Tk 4.14 billion.

Losers took a strong lead over the gainer, as out of 354 issues traded, 255 closed lower, 66 ended higher and 33 issues remained unchanged on the DSE trading floor.

A total number of 122,288 trades were executed in the day’s trading session with trading volume of 130.69 million securities.

The market capitalisation of the DSE also fell to Tk 3,442 billion on Monday, from Tk 3,454 billion in the previous session.

LafargeHolcim kept its dominance in the turnover chart with shares worth Tk 351 million changing hands, followed by Square Pharma, Bangladesh Submarine Cable, BATBC and SK Trims & Industries,

Northern Jute Manufacturing Company was the day’s best performer, posting a gain of 8.27 per cent while Bangladesh Steel Re-rolling Mills was the day’s worst loser, shedding 9.72 per cent.

The port city bourse, Chittagong Stock Exchange, also ended lower with its CSE All Share Price Index - CASPI –losing 136 points to settle at 13,656 and the Selective Categories Index - CSCX –shedding 84 points to finish at 8,281.

Here too, losers beat the gainers as 177 issues closed lower, 48 ended higher and 22 remained unchanged.

The port city’s bourse traded 6.23 million shares and mutual fund units worth Tk 126 million in turnover.

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