Stocks extend losing streak for third day

Stocks extended their losing streak for the third running sessions on Monday with volatile trading as investors remained cautious amid profit taking.

The market started with a mixed trend and landed into the red as the session progressed. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down further by 28.72 points or 0.59 per cent to settle at 4,815.64.

The two other indices also closed in the red. The DS30 index, comprising blue chips, dropped 12.26 points or 0.65 per cent to finish at 1,869.31. The DSE Shariah Index (DSES) fell 4.63 points or 0.38 per cent to end at 1,189.01. DSE turnover remained low and amounted to Tk 6.60 billion, which was 1.93 per cent lower than the previous session’s Tk 6.73 billion. The losers took a strong lead over the gainers as out of 320 issues traded, 185 closed lower, 81 higher and 54 remained unchanged on the DSE trading floor.

United Power Generation and Distribution Company was remained the day’s top turnover leader with shares of Tk 303 million changing hands followed by FAR Chemical, Lafarge Surma Cement, Appollo Ispat and SPCL. Northern Jute Manufacturing Company was the day’s best performer, posting a rise of 8.74 per cent while Dulamia Cotton was the day’s worst loser, plunging by 7.79 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – lost 47.03 points to end at 9,012.80. Losers beat gainers 158 to 74, with 31 issues remained unchanged on the port city bourse that traded 13.18 million shares and mutual fund units with a value of Tk 532 million. -FE