Stocks end week on negative note

Stocks end week on negative note

 FE Online Report | Published:  February 20, 2020 


Stocks end week on negative note

Stocks finished week on marginally lower Thursday as risk-averse investors went on sell-offs on sector-wise shares.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,733, shedding 24.86 points or 0.52 per cent over the previous day.

Market analysts said investors booked quick-profit on sector specific issues, which saw substantial gain the past five trading sessions, taking the market in the red zone.

A leading broker said stocks witnessed a natural correction, as some investors intended to realise the profit generated from the last few sessions.

The DS30 index, comprising blue chips, also fell 6.75 points to close at 1,592. However, the DSES (Shariah) index gained 2.79 points to settle at 1,089.

Turnover, an important indicator of the market, stood at Tk 7.70 billion on the country’s premier bourse, falling further by 8.0 per cent over previous day’s mark of Tk 8.37 billion.

Losers took a strong lead over the gainers as out of 355 issues traded, 243 closed lower, 83 ended higher and 29 remained unchanged on the DSE trading floor.

A total number of 188,732 trades were executed in the day’s trading session with trading volume of 257.71 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,592 billion, from Tk 3,596 billion in the previous session.

Grameenphone topped the turnover chart with shares worth nearly Tk 388 million changing hands, followed by LafargeHolcim, Confidence Cement, BBS Cables and Summit Power.

Information Services Networks was the day’s best performer, posting a gain of 9.97 per cent while CAPM BDBL Mutual Fund 01 was the worst loser, losing 8.60 per cent.

The Chittagong Stock Exchange also edged lower with its All Shares Price Index (CASPI)—losing 30 points to close at 14,524 and the Selective Categories Index – CSCX –shedding 16 points to finish at 8,812.

Here, too the losers beat gainers, as 169 issues closed lower, 75 ended higher and 25 remained unchanged on the CSE.

The port city bourse traded 11.94 million shares and mutual fund units worth nearly Tk 288 million in turnover.

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