Stocks see mild correction for 2nd day

Stocks saw mild correction for the second consecutive sessions on Monday, with turnover falling further, as investors continued to book profit.

The market opened with a downward trend and the downturn sustained throughout the session amid choppy trading. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 11.21 points or 0.23 per cent to settle at 8.775.27. The two other indices also closed in the red.

The DS30 index, comprising blue chips, lost 7.64 points or 0.40 per cent to finish at 1,869.25. The DSE Shariah Index (DSES) dropped 4.12 points or 0.34 per cent to close at 1,182.67. Turnover came down to Tk 6.48 billion, which was 14 per cent lower than the previous day’s Tk 7.54 billion.

The losers took a modest lead over the gainers as out of 318 issues traded, 149 closed higher, 129 lower and 40 remained unchanged on the DSE trading floor. Lafarge Surma Cement was the day’s top turnover leader with shares of Tk 356 million changing hands followed by RAK Ceramics, DESCO, Square Pharma and SPCL. Hakkani Pulp and Paper was the day’s best performer, posting a rise of 9.91 per cent while Meghna Cement was the day’s worst loser, plunging by 9.82 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also saw marginal correction with its Selective Categories Index – CSCX – lost 27 points to close at 8,905. Losers beat gainers 135 to 85, with 23 issues remained on the port city bourse that traded 12.13 million shares and mutual fund units with a value of Tk 465 million. -The Financial Express

Update: 4:40  PM, 27 July 2015, Monday