Stocks end red for fifth day

Stocks declined for the fifth day yesterday as investors sold off shares amid relentless downtrend in the market.
DSEX, the benchmark general index of the Dhaka Stock Exchange, fell 34.38 points or 0.77 percent, to close at 4,376.77.
The shariah index of the premier bourse, DSES, fell 5.77 points or 0.58 percent, to close at 992.
Apparently, expectations on pending monetary policy statement and year-end declarations due in June could not create any noticeable stir in the market, said IDLC Investments.
Besides, recent correction from 4,800 points level seriously wounded investors' purchasing power, disabling them from injecting fresh funds, it said.
So, investors waited for perfect confirmation of upbeat reversal, and the persistent and prolonged caution amid investors kept overall market activity in a declining mood, it added.
The most important indicator of the market, turnover, declined 11.01 percent to Tk 191 crore from the previous day.
Investors still prefer to remain on the sidelines and observe market movement, said LankaBangla Securities. A total of 0.58 lakh trades were executed with 5.35 crore shares and mutual fund units changing hands on the Dhaka bourse.
The telecoms sector closed in the black, as it rose 0.43 percent. Cement lost 1.90 percent; and food and allied 1.46 percent.
Of the 296 issues that traded on the DSE, 82 advanced, 176 declined and 38 remained unchanged.
Beximco featured on the most traded stocks chart with 50.95 lakh shares worth Tk 17 crore changing hands followed by Appollo Ispat Complex, Lafarge Surma Cement, Bangladesh Shipping Corporation and Grameenphone.
IFIL Islamic Mutual Fund One was the highest gainer of the day, gaining 4.55 percent, while Jute Spinners was the worst loser, plunging by 8.14 percent.
CSCX, the selective categories index of the Chittagong Stock Exchange, declined 58 points, to close at 8,345.
Losers took a strong lead over gainers with 140 to 37, while 25 remained unchanged on the port city bourse that traded 63.82 lakh shares and mutual fund units with Tk 19 crore in turnover.