Stocks extend losing streak on selling spree

Prothom Alo

Market experts said the investors continued their selling binge on major sector stocks riding on the news that daily Covid-19 infections and deaths are rising alarmingly in recent days in the country.

Turnover, a crucial indicator of the market, remained above Taka 20 billion-mark and amounted to Taka 20.30 billion, which was 0.65 per cent higher than the previous day’s tally of Taka 20.17 billion.

Turnover remained high as the institutional investors were active on the market due to the removal of the floor price restriction from all listed securities, said a merchant banker.

Losers took a strong lead over the gainers, as out of 372 issues traded, 217 declined, 133 advanced and 22 issues remained unchanged on the DSE trading floor.

Beximco topped the turnover chart with shares worth Tk 1.60 billion changing hands, followed by National Feed Mills (Tk 667 million), Makson Spinning Mills (Tk 493 million), Dragon Sweater (470 million) and Kattali Textile (Tk 411 million).

Monno Ceramic was the day’s top gainer, posting a 9.96 per cent gain while Pioneer Insurance was the worst loser, losing 9.82 per cent.

A total number of 322,583 trades were executed in the day’s trading session with a trading volume of 757.35 million shares and mutual fund units.

The market cap of DSE also fell to Taka 5,082 billion on Wednesday, down from the previous day’s Taka 5,124 billion.

The Chittagong Stock Exchange (CSE) ended sharply lower with its Selective Categories Index – CSCX- losing 194 points to close at 10,570.

Of the issues traded, 179 declined, 118 and 21 issues remained unchanged on the CSE. The port city’s bourse traded 40.26 million shares and mutual fund units with a turnover value of Tk 1.36 billion.

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