2020-02-19 16:54:10 BdST
Stocks break five-day winning streak
Stocks slipped into the red on Tuesday, snapping a five-day winning streak, as investors opted for quick-profit on selective large-cap issues.
The market opened on an upward trend and key index of the prime bourse rose more than 55 points within the first hour of trading. But the rest of the session went down steadily.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 27.73 points or 0.58 percent to close at 4,740, after adding 383 points in the past five straight sessions.
Market analysts said cautious investors booked quick-profit on sector-specific issues, which saw substantial gain the past five trading sessions, taking the market in a downward trend.
Two other indices also ended in the red. The DS30 index, comprising blue chips, fell by 8.13 points to finish at 1,590 and the DSE Shariah Index shed 2.35 points to close at 1,081.
However, turnover crossed Tk 10 billion-mark and amounted to Tk 10.21 billion on the country’s premier bourse, climbing further by 4.61 percent over previous day’s mark of Tk 9.76 billion.
It was the biggest single-day transaction in more than one-year since January 31, 2019, when the turnover totaled a record Tk 10.24 billion.
A merchant banker said liquidity support fund by the Bangladesh Bank and interest rate cut on post office savings scheme, paving the way for new investment in the market, taking the market turnover above Tk 10 billion-mark.
Losers took a modest lead over the gainers as out of 355 issues traded, 188 closed lower, 132 ended higher and 35 remained unchanged on the DSE trading floor.
A total number of 236,764 trades were executed in the day’s trading session with a trading volume of 382.88 million shares and mutual fund units.
The market-cap of the DSE also fell to Tk 3,561 billion, from Tk 3,571 billion in the previous session.
Summit Power topped the turnover chart with shares worth Tk 422 million changing hands, followed by LafargeHolcim, Khulna Power, Orion Pharma and National Tubes.
ICB AMCL Sonali Bank 1st Mutual Fund was the day’s best performer, posting a gain of 10 percent while Shympur Sugar Mills was the worst loser, losing 7.74 percent.
The Chittagong Stock Exchange also ended marginally with its All Shares Price Index (CASPI)—losing 25 points to close at 14,504 and the Selective Categories Index - CSCX –shedding 18 points to finish at 8,797.
Here too, the losers beat gainers, as 133 issues closed lower, 125 ended lower and 32 remained unchanged on the CSE.
The port city bourse traded 25.87 million shares and mutual fund units worth Tk 677 million in turnover.
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