Stocks continue sliding | The Daily Star
12:00 AM, April 16, 2018 / LAST MODIFIED: 12:00 AM, April 16, 2018

Stocks continue sliding

Shares on the Dhaka Stock Exchange fell for the fourth consecutive day yesterday as investors continue booking profit.

The DSEX, the benchmark index of the premier bourse, declined 39.52 points, or 0.68 percent, to finish at 5,773.60.

Turnover fell 42 percent to reach Tk 412.25 crore from what was three sessions ago, when it stood at Tk 710.96 crore. “The morning buoyancy did not sustain as several investors opted for profit-booking,” said EBL Securities in its market review.

Khairul Bashar Abu Taher Mohammed, secretary general of Bangladesh Merchant Bankers Association, said, “The government is trying to increase the participation of investors but the expected investment is not coming from institutions.”

He said banks are not getting opportunities to invest in the capital market immediately after the cut in the advance-deposit ratio. It will take five to six months to get an expected result.

Taher said the earnings per share of many companies disclosed in the last few days had not been as good as in the past and this is another reason for the low turnover.

On the day, 10.59 crore shares and mutual fund units changed hands on the DSE, while 85 issues advanced, 219 declined and 33 closed unchanged.

Beximco dominated the turnover chart followed by LafargeHolcim Bangladesh, Northern Jute, Padma Life Insurance, and Brac Bank.

Sonali Aansh was the day's best performer with an 8.73 percent gain. Advent Pharma was the worst loser, shedding 8.05 percent.

Chittagong stocks fell with the bourse's benchmark index, CSCX, declining 65.02 points, or 0.6 percent, to end at 10,772.12.

The Chittagong Stock Exchange traded 79.43 lakh shares and mutual fund units worth Tk 35.04 crore.

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