Stocks edge lower

Stocks extended losses for the six consecutive sessions on Monday, with turnover improved slightly, as cautious investors remained on selling frenzy.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 8.82 points or 0.19 per cent to settle at 4,533.91, after witnessing volatility almost throughout the trading session. The two other indices also ended in the red zone. The DS30 index, comprising blue chips, dropped 1.50 points or 0.08 per cent to 1,724.74. The DSE Shariah Index (DSES) shed 1.58 points or 0.14 per cent to close at 1,094.63.

Turnover, however, improved to Tk 3.35 billion, which was 22.26 per cent higher than the previous day’s Tk 2.74 billion. The losers took a strong lead over the gainers as out of 315 traded issues, 181 closed lower, 89 higher and 45 remained unchanged on the DSE trading floor.

Beximco Pharma dominated the turnover chart with share worth Tk 332 million changing hands followed by Regent Textile, Square Pharma, Quasem Drycells and Delta Life Insurance. Global Insurance was the day’s best performer, posting a rise of 6.20 per cent while BIFC was the day’s worst loser, plunging by 9.27 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – losing 31.64 points to end at 8,417.27. Losers beat gainers 162 to 49, with 26 issues remaining unchanged on the port city bourse that traded 8.60 million shares and mutual fund units with a value of Tk 249.53 million.-FE