Stocks in free fall

Stocks declined for the fifth day yesterday as investors remained reluctant to inject fresh funds into the market.

DSEX, the benchmark index of Dhaka Stock Exchange, edged 40.73 points down, or 0.83 percent, to finish the day at 4,837.93. DSES, the shariah index of the prime bourse, dropped 9.46 points, or 0.82 percent, to close at 1,137.88.   

“The market outlook remained hazy to investors,” LankaBangla Securities said.

Among other major updates on the financial sector, the central bank asked bankers on Monday to bring down non-performing loans below 10 percent by the end of this month.

Turnover, the most important indicator of the market, advanced 19.3 percent to Tk 285 crore, compared to that in the previous day.

A total of 0.83 lakh trades were executed with 7.14 crore shares and mutual fund units changing hands on the Dhaka bourse. The banking sector lost 1.19 percent in market capita-lisation, the highest among the major sectors, followed by non-bank financial institutions with 0.69 percent, food and allied 0.63 percent, and fuel and power 0.59 percent.

Losers beat gainers 173 to 112, and 27 remained unchanged out of the 312 issues traded on the DSE.

Agni System featured in the most traded stocks' chart with 32.31 lakh shares worth Tk 11 crore changing hands, followed by Western Marine Shipyard, Fuwang Food, Lafarge Surma and Square Pharma.

MBL First Mutual Fund was the highest gainer of the day, posting a 7.05 percent rise, while Aziz Pipes was the worst loser, plunging 10.20 percent. 

The Chittagong Stock Exchange also declined yesterday with its selective categories gauge, CSCX, shedding 96.46 points to finish the day at 14,931.35 points.

Of the 253 issues that traded on the port city bourse, 138 declined, 81 advanced and 34 remained unchanged.

The CSE traded 81.59 lakh shares and mutual fund units with Tk 26 crore in turnover.