Biz-Econ

Stocks return to red

Stocks returned to the red Wednesday, after remaining upbeat in the last two sessions, as investors followed cautious stance.The market opened with a positive note, and the DSEX crossing 4,600-mark in early trading, but could not sustain that level, eventually ended marginally lower.At the end of the session, DSEX, the prime index of the DSE, went down by 17.76 points or 0.38 per cent to 4,573.33.The DSE Shariah Index shed 2.34 points or 0.21 per cent to close at 1,108.86.However, the DS30 index, comprising blue chips, advanced 0.94 points or 0.05 per cent to 1,747.11.Turnover, another important indicator of the market, came down to Tk 4.14 billion, which was 18.66 per cent lower than the previous day’s Tk 5.09 billion.The losers took a strong lead over the gainers as out of 324 issues traded, 213 closed lower, 76 higher and 35 remained unchanged on the DSE trading floor.City Bank dominated the turnover chart with shares worth above Tk 319 million changing hands followed by Square Pharma, ACI, Olympic Industries and Beximco Pharma.Apex Foods was the day’s best performer for the second running session, posting a rise of 9.95 per cent while Shympur Sugar Mills was the worst loser, slumping by 10 per cent.The port city bourse Chittagong Stock Exchange (CSE) also returned to the red with its Selective Categories Index, CSCX, losing 29.79 points to finish at 8,562.01.Losers beat gainers as 157 issues closed lower, 58 higher and 33 remained unchanged on the CSE.The port city bourse traded 11.75 million shares and mutual fund units worth above Tk 284 million in turnover. -FE