Friday, 20 May, 2022

Stocks extend losing streak on selling spree

Stocks on Monday extended the losing streak for the two straight sessions as risk-averse investors opted for a quick profit on major sector issues.

DSEX, the prime index of DSE, slid 72.49 points or 1.10 per cent to settle at 6,482. Two other indices also saw a sharp decline. The DSE 30 Index, comprising blue chips, plunged 25.31 points to finish at 2,409 and the DSE Shariah Index (DSES) shed 13.54 points to close at 1,428.

Investors reduced their participation significantly further in the market, bringing turnover, an important indicator, to Tk 3.90 billion, from Tk 3.94 billion in the previous day, reports BSS.

Prices of more than 91 per cent traded issues declined, as out of 380 issues traded, 347 declined, 14 advanced and 19 issues remained unchanged on the DSE trading floor.

The newly listed JMI Hospital Requisite Manufacturing topped the turnover list with shares worth Tk 736 million changing hands, followed by Lafarge Holcim, Kattali Textile, Square Pharma, and Beximco.

The Chittagong Stock Exchange (CSE) also closed sharply lower with the CSE All Share Price Index - CASPI -losing 172 points to settle at 19,130 and the Selective Categories Index - CSCX -shedding 103 points to close at 11,477.

Of the issues traded, 224 declined, 23 advanced and 19 issues remained unchanged on the CSE.

The port city bourse traded 9.11 million shares and mutual fund units with a turnover value worth over Tk 365 million.