Biz-Econ

Stocks inch down for second day

Stocks slipped into the red on Monday for the second running as late sale pressure wiped off early gains.The market opened with a positive note like previous session, but could not sustain the momentum as the session progressed, eventually ended slightly lower.DSEX, the prime index of the Dhaka Stock Exchange (DSE), dipped below the 4,600-mark and settled at 4,592.33, losing 10.18 points or 0.22 per cent. The two other indices also closed in the red. The DS30 index, comprising blue chips, fell 3.43 points or 0.19 per cent to 1,744.06. The DSE Shariah Index (DSES) dropped 2.91 points or 0.26 per cent to end at 1,102.16. Turnover, however crossed Tk 4.0 billion level and amounted to Tk 4.13 billion, which was 24 per cent higher than the previous session’s Tk 3.33 billion.The losers took a strong lead over the gainers as out of 321 traded issues, 176 closed lower, 102 higher and 43 remained unchanged on the DSE trading floor. Beximco Pharma dominated the turnover chart with shares of Tk 185 million changing hands followed by Quasem Drycells, BeximcoACI and IFAD Autos. Apex Spinning was the day’s best performer, posting a rise of 8.60 per cent while Sonargaon Textile was the day’s worst loser, plunging by 9.34 per cent.The port city bourse Chittagong Stock Exchange (CSE) also closed in the red with its Selective Categories Index – CSCX – shedding 20.72 points to end at 8,521.06. Losers beat gainers 126 to 90, with 28 issues remaining unchanged on the port city bourse that traded 6.67 million shares and mutual fund units with a value of Tk 222 million.