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Stocks’ downtrend move extends to second consecutive day

Stock markets in the country extended their downtrend move for the second consecutive session today, as investors rushed to selling spree of their stocks in the large cap companies.

DSEX, the benchmark index of the Dhaka Stock Exchange, declined 29.82 points or 0.51 percent, finishing the day at 5,733.91 points.

However, only insurance sector remains green today amid the downtrend in the market as some investors are pouring money on the sector ahead of the declaration of the companies’ dividend.

A few insurance companies have already declared dividend as on their last years’ performance and others are going to declare soon.

Turnover, another important indicator of the market, also dropped 11.52 percent to Tk 719.13 crore, with 16.21 crore shares and mutual fund units changing hands at the DSE.

The DSE statistics shows Tk 445.15 crore of market capitalisation wiped out with the two days’ fall.

Of the traded issues, 155 advanced and 151 declined with 39 securities closing unchanged on the premier bourse.

United Power Generation dominated the turnover chart with 10.36 lakh shares worth Tk 42.62 crore changing hands, followed by Monno Ceramics, Doreen Power, Fortune Shoes and Provati Insurances.

Eastland Insurance was the day’s best performer with 10 percent gains, while IPDC was the worst loser, shedding 8.68 percent.

Chittagong stocks also fell today with the bourse’s benchmark index, CSCX, declining 11.19 points or 0.10 percent to finish the day at 10,634.86 points.

Gainers beat losers as 125 advanced and 110 declined among the traded issues, while 28 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded 78.36 lakh shares and mutual fund units worth Tk 21.55 crore.

Article source: https://www.thedailystar.net/business/news/stocks-downtrend-move-extends-second-consecutive-day-1700617

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