Stocks extend losing streak

Stocks on Thursday extended the losing streak for the third straight session as risk-averse investors opted for a quick profit on major sector issues.

DSEX, the key index of the Dhaka Stock Exchange, went down by 26.52 points or 0.40 per cent to settle at 6,565. Two other indices also ended lower. The DSE 30 Index, comprising blue chips, fell 13.72 points to finish at 2,406 and the DSE Shariah Index (DSES) lost 1.24 points to close at 1,432.

Turnover, a crucial indicator of the market, fell sharply and amounted to Tk 8.23 billion, which was 27 per cent lower than the previous day's tally of Tk 11.35 billion.

Losers took strong lead over the gainers as out of 381 issues traded, 242 declined, 91 advanced and 48 unchanged on the DSE trading floor.

JMI Hospital Requisite Manufacturing was the most-traded stock with shares worth Tk 444 million changing hands, closely followed by Shinepukur Ceramics (Tk 410 million), ACI Formulations (Tk 334 million), Beximco (Tk 299 million) and Rangpur Dairy & Food Products (Tk 253 million).

Shinepukur Ceramics was the top gainer, posting a 9.97 per cent gain while Paper Processing & Packaging was the worst loser, losing 4.99 per cent.

The Chittagong Stock Exchange (CSE) also extended losses with the CSE All Share Price Index - CASPI -losing 81 points to settle at 19,248 and the Selective Categories Index - CSCX - shedding 48 points to close at 11,550.

Of the issues traded, 192 declined, 68 advanced and 32 issues remained unchanged on the CSE.

The port city's bourse traded 10.02 million shares and mutual fund units with turnover value worth Tk 299 million.