Stocks extend losing spell for four-session

Stocks fell for the four consecutive sessions Monday with turnover remaining sluggish as investors continued on selling mood amid weak sentiment.

The market was positive for a brief period at opening and rest of the session declined steadily. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 26.24 points or 0.59 per cent to settle at six months low to 4,416.90. The two others indices also closed in the red. The DS30 index, comprising blue chips, dropped 9.27 points or 0.54 per cent to 1,680.23.

The DSE Shariah Index (DSES) shed 3.17 points or 0.29 per cent to finish at 1,068.60. Turnover, another important indicator of the market, remained low and the total turnover amounted to Tk3.21 billion, which was 2.23 per cent higher than the previous session’s Tk3.14 billion. The losers took a strong lead over the gainers as out of 315 traded issues, 197 closed lower, 79 higher and 39 remained unchanged on the DSE trading floor.

Titas Gas dominated the day’s turnover chart with shares of nearly Tk 317 million changing hands followed by IFAD Autos, United Power Generation and Distribution Company, Square Pharma and Lafarge Surma Cement. Standard Ceramics was the day’s best performer, posting a rise of 9.96 per cent while Pharma Aids was the day’s worst loser, plunging by 12.03 per cent.

The port city bourse Chittagong Stock Exchange (CSE) ended lower with its Selective Categories Index – CSCX – shedding 68.76 points to end at 8,206.29. Losers beat gainers 160 to 52, with 27 issues remaining unchanged on the port city bourse that traded 6.44 million shares and mutual fund units with a value of Tk244 million. -FE