Biz-Econ

Stocks edged lower on Monday

Stocks edged lower on Monday, extending the losing spell for the third sessions in a row, as late sale pressure wiped out early gains.DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down further by 15.79 points or 0.33 per cent to settle at 4,768, despite opening with upbeat note.The two other indices also ended in the red. The DS30 index, comprising blue chips, plunged 17.35 points or 0.94 per cent to end at 1,827.92. The DSE Shariah Index (DSES) lost 10.83 points or 0.91 per cent to close at 1,173.81. Turnover stood at Tk 6.10 billion, which was 14 per cent higher than the previous session’s Tk 5.33 billion. The losers took a lead over the gainers as out of 318 issues traded, 159 closed lower, 118 higher and 41 remained unchanged on the DSE trading floor.Islami Bank was the day’s top turnover leader with shares of Tk 337 million changing hands followed by RSRM Steels, SPCL, Apex Tannery and United Power Generation and Distribution Company. Apex Tannery was the day’s best performer, posting a rise of 14.04 per cent following its 45 per cent cash dividend recommendation while Jute Spinners was the day’s worst loser, plunging by 6.58 per cent.The port city bourse Chittagong Stock Exchange (CSE) also closed slightly lower with its Selective Categories Index – CSCX – lost 32.77 points to end at 8,917.06. Losers beat gainers 136 to 80, with 46 issues remained unchanged on the port city bourse that traded 13.14 million shares and mutual fund units with a value of Tk 480 million. -FE