Stocks edge lower amid sluggish turnover

Stocks edged marginally lower for the second running session on Sunday with turnover dipping below Tk 6.0 billion-mark again as investors were cautious.

The market opened with a downward trend which sustained till closure of the market amid modest volatility. DSEX, the prime index of the Dhaka Stock Exchange (DSE), came down below the 4,800-mark and settled at 4,783.80, shedding 25.06 points or 0.52 per cent. The two other indices also closed in the red. The DS30 index, comprising blue chips, lost 14.12 points or 0.75 per cent to end at 1,845.27. The DSE Shariah Index (DSES) shed 6.36 points or 0.53 per cent to close at 1,184.64.

Turnover came down below Tk 6.0-billion mark and amounted to Tk 5.33 billion, which was 11.6 per cent lower than the previous session’s Tk 6.03 billion. The losers took a strong lead over the gainers as out of 320 issues traded, 202 closed lower, 80 higher and 38 remained unchanged on the DSE trading floor. Shahjibazar Power Company was the day’s top turnover leader with shares of Tk 321 million changing hands followed by Square Pharma, RSRM Steels, Islami Bank and United Power. Exim Bank First Mutual Fund was the day’s best performer, posting a rise of 11.86 per cent while Square Pharma was the day’s worst loser, plunging by 11.56 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – lost 50.24 points to end at 8,949.83. Losers beat gainers 158 to 56, with 35 issues remained unchanged on the port city bourse that traded 10.65 million shares and mutual fund units with a value of Tk 388 million. -FE