Stocks close lower despite brief upward trend

Trading at both DSE and CSE for Wednesday closed in negative territory as DSEX fell 27.99 points while the CSCX fell 57.75 points.

Even though the first 15 minutes of trading at the DSE were positive, the index fell steadily afterwards till the end of the day, posting a net fall of 0.59 per cent to 4,669.51.

Apart from the DSEX, The two other indices also dipped. The blue-chip DS30 lost 11.42 points or 0.64 per cent to finish at 1,755.87. The DSE Shariah Index dropped 5.78 points or 0.51 per cent to close at 1,122.46.

Market turnover at the end of the day was Tk 6.69 billion, 7.08 per cent lower than the previous day’s Tk 7.20 billion.

Losses outnumbered gains 194 to 99, with 34 issues remaining unchanged.

United Power Generation and Distribution dominated the turnover chart with shares worth Tk 415 million changing hands followed by Beximco Pharma, Active Fine Chemicals, Emerald Oil and Alltex Industries.

Dacca Dyeing was the day’s best performer, rising of 9.69 per cent. Vanguard AML BD Finance Mutual Fund One was the worst loser, plunging 8.96 per cent.

Chittagong Stock Exchange (CSE) also ended lower than it started with its Selective Categories Index, CSCX, falling 57.75 points or 0.66 per cent to finish at 8,678.68.

158 issues closed lower, 58 higher and 28 remained unchanged.

CSE traded 17.06 million shares and mutual fund units worth Tk 415.46 million in turnover. -FE