Stocks slip into red with low turnover

Stocks slipped into red on Wednesday with turnover falling further as worried investors went on selling frenzy. The market started on negative tone with slow trading, which continued till end of the session.

DSEX, the prime index of the Dhaka Stock Exchange, settled at 4,511.31, after plunging 40.20 points or 0.88 per cent. The two other indices also ended in the negative territory. The DS30, including blue chips moved down by 14.67 points or 0.84 per cent to end at 1,713.87.

The DSE Shariah Index (DSES) slumped 10.81 points or 0.98 per cent to finish at 1,085.02. Turnover, another important indicator of the market, came down to Tk 2.90 billion again on DSE, which was 9.38 per cent lower than the previous day’s Tk 3.20 billion. The losers took a strong lead over the gainers as out of 321 traded issues, 208 closed lower, 70 higher and 43 remained unchanged on the DSE trading floor.

IFAD Autos dominated the day’s turnover chart with shares of Tk 192 million changing hands followed by KDS Accessories, Quasem Drycells, C&A Textile and Bangladesh Submarine Cable Company. ICB Third Mutual Fund was the day’s best performer, posting a rise of 8.11 per cent while Kay & Que was the day’s worst loser, slumping by 9.94 per cent.

The port city bourse Chittagong Stock Exchange (CSE) ended lower with its Selective Categories Index – CSCX – shedding 72.46 points to end at 8,395.70. The losers beat gainers 163 to 35, with 30 issues remaining unchanged on the port city bourse that traded 6.22 million shares and mutual fund units with a value of Tk 185.48 million. -FE