Biz-Econ

Stocks witness mild correction after 4 days

Stocks witnessed mild correction on Wednesday, after remaining positive in the past four trading sessions as late hours sale pressure wiped-out early gains.The market opened higher in the morning, but it could not sustain as the session presaged. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), dropped below 4,800-mark and settled at 4,796.81, shedding 4.99 points or 0.10 per cent. The two other indices also closed in the red. The DS30 index, comprising blue chips, lost 1.42 points or 0.07 per cent to 1,836.24.The DSE Shariah Index (DSES) dropped 0.49 points or 0.04 per cent to end at 1,179.92. Turnover, however, improved slightly to Tk4.27 billion, which was 1.67 per cent higher than the previous session’s Tk4.20 billion. The losers took a lead over the gainers as out of 320 issues traded, 166 closed lower, 108 higher and 46 remained unchanged on the DSE trading floor. United Airways was the day’s top turnover leader with shares of Tk243.80 million changing hands followed by Islami Bank, BSRM, BSRM Steels and Quasem Drycells. Quasem Drycells was the day’s best performer, posting a rise of 9.26 per cent while Meghna Condensed Milk was the day’s worst loser, plunging by 6.81 per cent.The port city bourse Chittagong Stock Exchange (CSE) also closed in the red with its Selective Categories Index – CSCX – lost 5.35 points to end at 8,939.35. Losers beat gainers 124 to 89, with 33 issues remained unchanged on the port city bourse that traded 9.14 million shares and mutual fund units with a value of Tk280.56 million. -FE