Stocks halt 3-day gaining streak on selling spree
Stocks halted a three-day rising streak on Thursday as the dominant small investors went on selling spree fearing possible extension of the ongoing week-long lockdown.
As a result the indices on both the bourses -- the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) declined sharply. Market sources also attributed the fall to lifting of floor prices of 66 companies by the Bangladesh Securities and Exchange Commission, effective from Thursday.
At the close of the trading DSEX, the prime index of the DSE went down by 82.56 points or 1.55 per cent to settle at 5,254.78.
Two other indices also closed lower. The DS30 index, comprising blue chips, lost 20.80 points to finish at 1,990.39 and the DSE Shariah Index fell 16.51 points to close at 1,197.66.
The daily trade turnover on the DSE also plunged to Taka 4,758.78 million which was Taka 5,825.23 million at the previous session of the week.
Losers took a strong lead over the gainers as out of 347 issues traded, 265 closed lower, 47 higher and 35 issues remained unchanged on the DSE trading floor.
Beximco dominated the turnover chart, followed by Robi, Asia Pacific Insurance, Provati Insurance and PURABIGEN.
Provati Insurance was the day's best performer, posting a gain of 9.97 per cent while AFC Agro was the worst loser, losing 10 per cent following its price adjustment after record date.
The CSE with its All Shares Price Index (CASPI) lost 203.85 points to close at 15,231.05 while the Selective Categories Index (CSCX) dropped 121.87 points to close at 9,190.42.
Of the issues traded, 156 declined, 41 advanced and 20 remained unchanged on the CSE. The port city bourse traded 68.97 lakh shares and mutual fund units with turnover value of more than Taka 24.60 crore.