Dhaka stocks slip again after two sessions

Most sectors on Dhaka Stock Exchange (DSE) on Monday ended low, dragging the index back into negative terrain after two previous gaining sessions.

However, despite a slight increase in turnover, investors remain jittery resulting in most stocks falling due to selling pressure rather than buying shares on the day.

Market insiders said the big fall was caused by investors panicking and selling shares fearing further declines.

At the end of the day, DSE’s key index DSEX decreased by 34 points or 0.55 percent to settle the day at 6,197.

Among other indices, the shariah-based DSES fell by 9 points or 0.68 percent and the blue-chip DS-30 was down by 10 points or 0.49 percent.

The DSE had a turnover of Tk 416.75 crore, which is Tk 77 crore more than the previous working day.

Shares of the 289 companies traded on the day, of which only 10 firms gained, 73 issues lost and 206 companies remained unchanged.

The IT sector rose to the top position in terms of transactions. The total turnover in this sector was Tk 86.89 crore, which is 24.68 percent of the total turnover.

The paper and printing sector was at the second position with Tk 53.49 crore turnover, followed by insurance sector at Tk 44.8 crore.

Shares of Genex Infosys were the most-traded by value on the DSE as its shares worth Tk 43.84 crore were traded on the day.

Bashundhara Paper Mills, which was the second most-traded stock, had a turnover of Tk 36.08 crore followed by Chartered Life Insurance, Aamra Network, Orion Pharma, Eastern Housing, Intraco Refueling, Summit Alliance Port, Sea Pearl Beach Resort and Padma Life Insurance.

Meanwhile, the overall index CASPI of the Chittagong Stock Exchange (CSE) decreased 72 points to 18,329 and securities worth Tk 7.32 crore were traded on the day.