Stocks extend losses amid low turnover

Stocks extended the losing streak for the second day in a row on Tuesday as risk-averse investors opted for quick-profit on selective issues amid ongoing virus fears.

DSEX, the key index of the Dhaka Stock Exchange, went down by 7.36 points or 0.18 percent to settle at 4,082 over the previous day.

Market analysts said cautious investors continued their profit booking sell-offs on stocks, which saw substantial gain the past few trading days.

A section of investors, however, remained active on the market riding on optimism owing to gradual reopening of the economy and revival of some specific sectors’ activity, they said.

The DS30 index, comprising blue chips, also lost 2.02 points to finish at 1,374. However, the DSE Shariah Index advanced 1.28 points to close at 952.

Turnover, another important indicator of the market, came down to Tk 2.89 billion on the country’s prime bourse, which was nearly 24 percent lower than the previous day’s turnover of Tk 3.78 billion.

Block trade contributed Tk 390 million to the day’s total turnover where 50 companies’ shares traded in the block trade board.

Most of the shares remained stuck at the trading. Of the issues traded, 184 remained unchanged while 43 issues advanced and 120 declined on the DSE floor.

A total number of 65,596 trades were executed in the day’s trading session with a trading volume of 86.45 million shares and mutual fund units.

The market-cap on the premier bourse also fell to Tk 3,156 billion on Tuesday, from Tk 3,163 billion in the previous session.

Pharmaceuticals sector continued to dominate the turnover chart with Beximco Pharma topped the turnover chart with shares worth Tk 192 million changing hands, closely followed by Square Pharma, Indo-Bangla Pharma, Paramount Textile and Bangladesh Submarine Cable Company.

Republic Insurance was the day’s best performer, posting a gain of 9.90 per cent while City Bank was the worst loser, losing 6.89 per cent.

The Chittagong Stock Exchange also edged lower with its All Shares Price Index (CASPI)—losing 5.53 points to close at 11,601 and the Selective Categories Index - CSCX –falling 2.64 points to finish at 7,031.

Of the issues traded, 41 gained, 61 declined and 88 remained unchanged on the CSE.

The port city bourse traded 5.12 million shares and mutual fund units with turnover value of Tk 176 million.