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Dhaka stocks have extended its losing streak for a fourth consecutive day yesterday.
The DSEX, the benchmark index of Dhaka Stock Exchange, went down 21 points, or 0.31 per cent, to end the day at 6,641.
However, turnover, an important indicator of the market, rose to Tk 515 crore, 5 per cent up from the previous day’s Tk 490 crore.
Risk-averse investors continued with their selling spree on sector-specific issues to avoid further losses, said International Leasing Securities in its daily market review.
The recent rise of call money rate indicates that the real economy is using much more money for paying bills due to inflation, it said.
That slowed down the flow of funds to the capital market. Besides, the banking sectors’ earning disclosures failed to meet expectations of some investors, it added.
At the DSE, 99 stocks advanced, 230 declined and 52 remained the same.
JMI Hospital Requisite Manufacturing topped the gainers’ list with a rise of about 10 per cent. Imam Button Industries, Safko Spinning Mills, Anwar Galvanizing, and Fareast Finance and Investment also saw major gains.
Uttara Bank shed the most, suffering a 13.8 per cent drop. Brac Bank, Shahjalal Islami Bank, Mercantile Bank and Bangladesh National Insurance were among those incurring heavy losses.
Beximco became the stock to be traded the most, with shares worth Tk 42 crore changing hands, followed by Sonali Paper and Board Mills, LafargeHolcim Bangladesh, GBB Power and Bangladesh Building Systems.
Chittagong Stock Exchange (CSE) also fell yesterday. The CASPI, the main index of the CSE, edged down 65 points, or 0.33 per cent, to close the day at 19,501.
Of the 265 stocks to undergo trade, 56 rose, 170 fell and 39 did not see any price movement.
(TDS)
