Stocks edge lower with high volatility

Stocks edged lower Tuesday, extending the losing streak for the five straight sessions with dipping below Tk3.0 billion again as investors remained cautious amid weak sentiment.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down further by 6.32 points or 0.14 per cent to settle at 4,410.57 after witnessing volatility throughout the session. The DSE Shariah Index (DSES) lost 2.43 points or 0.22 per cent to finish at 1,066.16. However, the DS30 index, comprising blue chips, managed to close positive, gaining 1.24 points or 0.07 per cent to 1,681.48.

Turnover dropped below Tk3.0 billion-mark again and the total amounted to Tk2.94 billion, which was 8.41 per cent lower than the previous session’s Tk3.21 billion. The losers took a strong lead over the gainers as out of 312 traded issues, 164 closed lower, 103 higher and 45 remained unchanged on the DSE trading floor.

Titas Gas continued to top the turnover chart for the second consecutive day with shares of nearly Tk217 million changing hands followed by IFAD Autos, Square Pharma, Quasem Drycells and Beximco Pharma. Northern Jute Manufacturing Company was the day’s best performer, posting a rise of 8.11 per cent while ICB was the day’s worst loser, plunging by 11.83 per cent.

The port city bourse Chittagong Stock Exchange (CSE) ended lower with its Selective Categories Index – CSCX – shedding 23.84 points to end at 8,192.27. -FE