Stocks extend losing streak on selling spree

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

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 65.54 points or 0.90 per cent to 7,248.44. Two other indices also ended lower with the DSE 30 Index, comprising blue chips, fell 32.31 points to finish at 2,717.57 and the DSE Shariah Index (DSES) shed 24.44 points to close at 1,566.60.

Turnover, a crucial indicator of the market, amounted to Tk 19,529.92 million which was Tk 18,638.01 million at the previous session of the week.

Losers took a strong lead over the gainers, as out of 376 issues traded, 241 declined, 106 advanced and 29 issues remained unchanged on the DSE trading floor.

Fortune topped the turnover chart, followed by LHBL, IFIC, Orion Pharma and Beximco.

NRBC Bank was the day's top gainer, posting a 9.96 per cent gain while FEKDIL was the worst loser, losing 7.39 per cent.

The Chittagong Stock Exchange (CSE) ended sharply lower with its Selective Categories Index - CSCX- losing 104.57 points to close at

12,724.21.

Of the issues traded, 203 declined, 89 and 23 issues remained unchanged on the CSE.

The port city's bourse traded 1.78 crore shares and mutual fund units with a turnover value of Tk 61.51 crore.