Stocks down with sluggish turnover

Stocks returned to the red Sunday, after remaining upbeat for the two consecutive sessions, as investors went on selling frenzy.

The market started with a negative note and the downturn continued till end of the session. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 46.69 points or 1.0 per cent to settle at 4,608.04. The two other indices also closed lower. The DS30 index, comprising blue chips, lost 20.69 points or 1.16 per cent to 1,756.82. The DSE Shariah Index (DSES) shed 14.95 points or 1.32 per cent to end at 1,110.52. The market turnover came down to Tk 4.56 billion, which was 18.13 per cent higher than the previous day’s Tk 5.57 billion.

The losers took a strong lead over the gainers as out of 3314 issues traded, 196 closed lower, 77 higher and 41 remained unchanged on the DSE trading floor. Quasem Drycells dominated the turnover chart with shares of Tk 165 million changing hands followed by BSRM Steels, Aftab Autos, Saif Power and GP. Desh Garment was the day’s best performer for the two consecutive sessions, posting a rise of 9.44 per cent while Samata Leather was the day’s worst loser, plunging by 8.52 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – shedding 105.93 point to close at 8,558.16. Losers beat gainers 153 to 63, with 32 issues remaining unchanged on the port city bourse that traded 8.96 million shares and mutual fund units with a value of Tk 324.48 million. -FE