Stocks extend losing streak amid falling turnover
BSS
Stock market extended the losing streak yesterday amid falling turnover when most of the traded issues closed lower at both Dhaka and Chittagong stock exchanges, reports BSS. At Dhaka Stock Exchange (DSE), 170 issued suffered loss across the board as the turnover value and volume declined by 20.19 per cent and 14.80 per cent to Tk 467.70 crore and 14.36 crore shares.
The declining activities caused 28.30 points fall in the broader DSEX when it closed the session at 4513.98, with DS30 and DSES finishing lower at 1738.48 and 1094.92 respectively.
After bottoming out at 3960 points, index raced up above 4600 index level in just last one month. Budget hope garnered the market sentiment throughout the period of pre-budget rally...Now market seems to have entered into the correction phase, said Lanka Bangla Securities Limited.
Textile, bank and NBFI lost most when fuel and power, mutual fund and engineering gained marginally among the major sectors.
Pioneer Insurance, ICB1STNRB, Modern Dyeing, Kay and Que and Style Craft were most losing issues of the day when United Air, Standard Ceramic, Ifad Autos, UPGDCL and Alltex were the top five among the sessions 100 advancing issues.
United Air topped the turnover list followed by Beximco, KPCK, Sumit Power and UPGDCL.
Chittagong Stock Exchange (CSE) closed the session marginally lower, with the general CSCX index closing down at 8458.97.
Out of the days 233 issues traded, only 73 gained while 127 closed lower and 33 remained unchanged. A total of 2.30 crore shares worth Tk 65.85 crore changed hands on the day.
