Dhaka stocks slip for 6th straight day

The benchmark index of the Dhaka Stock Exchange (DSE) plunged again on Monday (19 February) extending its losing streak for the sixth consecutive session.

The DSEX shed 24 points, or 0.38%, to settle at 6,258. With the fresh fall, the major index lost 189 points in the last six sessions.

Moreover, the port city bourse, Chittagong Stock Exchange, also closed lower, with the All-Share Price Index (CASPI) dropping by 101 points to 17,984.

The EBL Securities in its daily market commentary said the indices observed flat momentum until mid-session as investors remained active on both sides of the trading fence, while sellers ended up on the dominant side by the end of the session as cautious investors preferred to take a wait-and-see approach considering the prevailing concerns regarding the market trend.

The prevailing market volatility has diminished the reinstated optimism of investors, leading risk-averse individuals to liquidate their holdings and adopt a cautious stance amid the market's declining momentum, the review added.

Among the traded scrips yesterday, 97 showed advancement, 245 experienced a decline, and 52 remained unchanged at the DSE.

The DSE turnover decreased by 11% and fell to Tk818 crore as against Tk924 crore in the previous session.

Investors showed heightened interest in Orion Infusion shares, making it the highest turnover stock with a value of Tk41 crore at the DSE, followed by Best Holdings and Fu Wang Ceramic.

Monospool Paper and Paper Processing experienced a notable price erosion from the adjusted opening price compared to the previous closing price. The decline is linked to the rise in paid-up capital, a result of the merger with their associate companies.

Nevertheless, both companies secured top positions on the gainers' table, with their share prices surging by almost 10% from the adjusted opening prices.