Biz-Econ

Stocks slip into red after two-day

Stocks slipped into the red on Wednesday, after remaining upbeat for the last two sessions, as risk-averse investors booked quick profits.The market opened with a mixed trend and tried to upturn two times in the mid-session, but failed. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,588.74, after slipping 4.98 points or 0.10 per cent. The two other indices also closed in the red. The DS30 index, comprising blue chips, dropped 3.78 points or 0.21 per cent to 1,740.81.The DSE Shariah Index (DSES) lost 1.77 points or 0.16 per cent to end at 1,102.42. Turnover came down to Tk 3.94 billion on DSE, which was 25.09 per cent lower than the previous session’s two weeks high turnover of Tk 5.26 billion. The losers and gainers were almost same as out of 322 issues traded, 139 closed lower, 138 higher and 45 remained unchanged on the DSE trading floor.Titas Gas Transmission and Distribution Company dominated the turnover chart with share worth Tk 177 million changing hands followed by Beximco, Emerald Oil, ACI and Beximco Pharma. Miracle Industries was the day’s best performer, posting a rise of 9.67 per cent while Progressive Life Insurance was the day’s worst loser, plunging by 6.96 per cent.The port city bourse Chittagong Stock Exchange (CSE) also returned to the red with its Selective Categories Index – CSCX – losing 7.82 points to end at 8,508.77. Losers beat gainers 110 to 91, with 32 issues remaining unchanged on the port city bourse that traded 8.53 million shares and mutual fund units with a value of Tk 327.56 million. -FE