Stocks Break Gaining Streak

Stocks today witnessed a downward trend after showing four days of positive trend as cautious investors opted for booking profit on quick-gaining issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 28.78 points or 0.40 per cent to settle at 7,060, after gaining 38 points in the past four consecutive sessions.

Turnover, the most important indicator of the market, stood at Taka 12.41 billion, which was 2.67 per cent lower than the previous day’s tally of Taka 12.75 billion.

Two other indices also edged lower. The DS30 index, comprising blue chips, dropped 7.91 points to finish at 2,597 and the DSE Shariah Index fell 3.13 points to close at 1,519.

Losers took a strong lead over the gainers, as out of 380 issues traded, 272 declined, 64 advanced and 44 issues remained unchanged on the DSE.

A total number of 335,461 trades were executed in the day’s trading session with a trading volume of 288.82 million securities.

The market capitalisation of the DSE dropped to Taka 5,651 billion on Monday, up from Taka 5,671 billion in the previous session.

Fortune Shoes, which gained 4.92 per cent, was the most traded stock with shares worth over Taka 777 million changing hands, followed by Beximco (Taka 608 million), Orion Pharma (Taka 517 million), Bangladesh Shipping Corporation (Taka 504 million) and National Life Insurance (Taka 455 million).

Tamijuddin Textile Mills was the day’s top gainer, posting an 8.73 per cent rise while Reliance Insurance was the worst loser, losing 6.05 per cent.

The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI –losing 70 points to settle at 20,705 and the Selective Categories Index – CSCX—shedding 41 points to close at 12,432.

Of the issues traded, 187 declined, 88 advanced and 81 issues remained unchanged on the CSE.

The port city bourse traded 23.37 million shares and mutual fund units with a turnover value of Taka 655 million.