• MARCH 28, 2023

Stocks extend losing streak

A file photo shows a man monitoring the stock market on a computer. COURTESY

  • Stock Market
  • Business Desk
  • Published: 15 Jun 2022, 11:42 AM

Stocks extended the losing streak on Tuesday as investors continued sell-off shares amid the country’s macroeconomic worries. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 30.60 points or 0.47 per cent to settle at 6,361. DSEX eroded nearly 123 points in the past four days.

Market insiders said the instability of the exchange rate and rising inflation due to the global commodity price volatility spooked investors on the trading floor.

Besides, the investors were not happy with the budgetary measures given for the stock market, so they are selling shares, they said.

Two other indices also ended lower. The DSE 30 Index, comprising blue chips, fell 16.06 points to close at 2,300 and the DSEShariah Index (DSES) lost 7.15 points to settle at 1,387.

Turnover, the crucial indicator of the market, however, rose further to Tk 8.75 billion, which was 9.65 per cent higher than the previous day’s tally of Tk 7.98 billion.

Of the 382 issues traded, 236 declined, 89 advanced and 57 issues remained unchanged.

Shinepukur Ceramics was the most traded stock with shares worth nearly Tk 707 million changing hands, followed by JMI Hospital Requisite Manufacturing (Tk 445 million), Anwar Galvanizing (Tk 257 million), Beximco (Tk 239 million), Monno Fabrics (Tk 232 million).

Shinepukur Ceramics was also the day’s top gainer, posting a 9.97 per cent gain while ONE Bank was the worst loser, losing 5.30 per cent following its price adjustment after the record date.

The Chittagong Stock Exchange (CSE) extended losses with the CSEAll Share Price Index – CASPI –losing 78.83 points to settle at 18,710 and the Selective Categories Index – CSCX, fell 48 points to close at 11,218.

Of the issues traded, 169 declined, 84 advanced and 39 remained unchanged on the CSE.

The port city’s bourse traded 13.20 million shares and mutual fund units with a turnover value of Tk 555 million.

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