Stocks stretch losing streak

Stocks in Bangladesh yesterday maintained their downward trend amid a volatile session, where risk-averse investors opted for profits on sector-specific issues that observed recent rallies, according to experts.

Following a similar performance the previous day, the market got off to a flying start but could not maintain buoyancy as investors gradually lost their buying interest after the first hour of trading.

As such, the market was unable to bounce back into green territory, International Leasing Securities said in its daily market review.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), shed 3.77 points, or 0.06 per cent, to reach 6,209 points by the end of the session.

Likewise, the DS30, which represents blue-chip stocks, and DSES, an index comprised of shariah-compliant companies, both edged down 0.2 per cent to 2,203 points and 1,346 points respectively.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), shed 3.77 points, or 0.06 per cent, to reach 6,209 points by the end of the session.

Turnover, a key indicator of trading activity in the market, increased 15 per cent to Tk 664 crore.

Of the securities traded, 58 advanced, 68 declined and 202 did not show any price movement.

Aziz Pipes topped the gainers' list with a 10 per cent bump while Northern Jute Manufacturing, Stylecraft Limited, Standard Ceramic Industries, and Apex Foods also featured.

Unilever Consumer Care shed the most, eroding 37 per cent, while Bengal Windsor Thermoplastics, Intech Limited, Shyampur Sugar Mills, and Meghna Pet Industries registered significant losses as well.

Gemini Sea Food was the most traded stock with issues worth Tk 51 crore being transacting.

Aamra Networks, Eastern Housing, Al-Haj Textile Mills, and Genex Infosys also saw significant turnover.

The CASPI, the all-share price index of the Chittagong Stock Exchange, dropped 10 points, or 0.05 per cent, to close the day at 18,305 points.

Of the issues traded, 28 rose, 46 retreated and 50 did not see any price swing.

Meanwhile, turnover of the port city bourse plummeted by more than 38 per cent to Tk 7.31 crore.