DSE extends losing streak for 7th straight day
The premier bourse continued the losing streak for the seventh consecutive sessions on Tuesday as cautious investors preferred profit booking amid junk share flooding.
The benchmark index DSEX at the Dhaka Stock Exchange shed 3 points to settle at 6,256.
On Tuesday, the turnover dropped by nearly 7% to Tk765 crore compared to the previous session's Tk819 crore.
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However, the blue-chip DS30 rose 0.83 points to 2,132 with DSES, the Shariah index, declining 2 points to 1,360.
Of the total scrips traded, 184 advanced, 166 declined and 42 remained unchanged.
Bangladesh Monospool Paper, and Paper Processing were the top gainers at the DSE yesterday followed by Queen South Textile Mills, Esquire Knit Composite, Monno Fabrics.
On the other hand, Aftab Automobiles, Mithun Knitting were the top losers.
The top three traded stocks at the premier bourse were Orion Infusion, Best Holdings and Aftab Automobiles.
"The benchmark index of the Dhaka bourse failed to stay afloat in green territory following a volatile session," EBL Securities said in a daily commentary.
The risk-averse investors maintained their sell dominance after being worried about the market momentum, it added.
The market observed an upbeat vibe during the first two hours of the session, the subsequent choppy trading eroded all the early gains as sellers regained control and continued to liquidate their holdings owing to concerns regarding the waning market momentum, it further said.
Pharma sector stocks contributed the highest 22% to the day's turnover, followed by textile and engineering with 11.2% and 10% contribution respectively.
Most of the sectors displayed mixed returns, out of which travel suffered the most 2.1% correction followed by service 1% and tannery 0.9% yesterday.
On the other hand, paper saw the most 3.4% gain, while textile stocks surging 2% and jute sector 2%.
Meanwhile, the Chittagong Stock Exchange also settled in the red terrain. Selected index CSCX and All Share Price Index CASPI declined by 22.1 points and 39.6 points respectively.
