Stocks decline for 3rd day straight
Although companies listed with the Dhaka Stock Exchange (DSE) regained some strength in the early hours of trading yesterday, they eventually ended in a decline that extended their losing streak for the third day consecutively.
The DSEX, the benchmark index of the premier bourse of Bangladesh, shed 10.80 points, or 0.19 percent, to close the day at 5,763.77 points.
Likewise, the DSES, an index that represents shariah-compliant companies, slipped by 1.65 points, 0.13 percent, to 1,266.41 points.
The DS30, which comprises blue-chip stocks, fell by 5.36 points, 0.27 percent, to 2,014.93 points.
Daily turnover, which indicates the volume of shares traded during the session, stood at Tk 482 crore, down 10.68 percent from the previous trading session.
According to the daily market update of UCB Stock Brokerage, the travel and leisure, IT and tannery sectors closed positive while the ceramics, mutual fund and non-bank financial institution sectors closed negative.
The pharmaceuticals sector dominated the turnover chart, covering 17.10 percent of the total market turnover.
In its daily market update, BRAC EPL Stock Brokerage said the market closed in the red as most large-cap sectors posted negative performances.
The non-bank financial institution sector experienced the highest loss of 0.82 percent followed by engineering (0.64 percent), fuel and power (0.30 percent), telecommunication (0.25 percent), pharmaceuticals (0.18 percent), bank (0.18 percent), and food and allied (0.08 percent).
Block trades contributed 2.1 percent of the overall market turnover. Asiatic Laboratories was the most traded share with a turnover of Tk 26.4 crore and rise of 1.3 percent in share value.
Of the issues traded at the DSE, 106 nudged higher, 222 declined, and 67 did not see any price movement.
Coppertech Industries topped the gainers' list with a rise of 9.82 percent followed by SEML Lecture Equity Management Fund, ACME Pesticides, and BD Thai Food & Beverage with 8.54 percent, 6.05 percent, and 5.41 percent respectively.
Zahintex Industries, Premier Leasing and Finance, Taufika Foods and Lovello Ice-cream, aamra networks, Takaful Islami Insurance, and Al-Haj Textile Mills were also on the top-gainers' chart.
LR Global Bangladesh Mutual Fund One shed the most, losing 6.12 percent, followed by ICB Employees Provident MF 1: Scheme 1, Prime Bank 1st ICB AMCL Mutual Fund, and New Line Clothings.
The four were followed by EXIM Bank 1st Mutual Fund, Karnaphuli Insurance Company, Green Delta Mutual Fund on the list of those that suffered the biggest losses.
The Chittagong Stock Exchange witnessed a similar trend as the Caspi, the main index of the port city bourse, edged down by 78.59 points, or 0.47 percent, to close at 16,459.54 points.