Stock prices continue to fall amid higher selling

Stock prices continue to fall amid higher selling

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Share prices at Dhaka Stock Exchange (DSE) continued sliding amid higher selling when political outlook remained bleak. Some 7.11 crore shares changed hands on DSE on Monday, which was less than the 3.0 percent below the Sunday’s trade volume of 7.29 crore shares. The market indicators, however, closed the day lower on falling prices. Out of the traded 305 scrips, 187 incurred loss. The large number of losing issues across the board brought the daily trade value nearly 12.0 percent low at Taka 298 crore from Sunday’s turnover value of Taka 336.65 crore.The large-cap group and the mutual funds remained in the low tide, driven by higher selling by investors who were offloading shares for cash. Resultantly, market lacked fresh fund flow and the high demand shares of many companies also saw volatility despite announcing lucrative corporate disclosure.The multinational companies, however, kept activities higher during midday trading, which evaporated eventually with rising selling peruses from high and mid-cap groups. Shares from telecom, engineering, food and insurance were in the front of the day’s lagging issues, with Green Delta Insurance, National Tubes, Gemini Sea Food, Aziz Pipe and BSCCL among the top five losing scrips. Among the sectors, telecom, tannery, fuel and power and textile stocks most in market capitalisation when cement sector gave the highest return.Some issues of the telecom and engineering were also among the advancing issues as some investors were scrip focused. Finance, miscellaneous and textile issues also saw some gains when the top five advancing issues included ILFSL, Beximco, Prime Tex, Ifad Autos and BDCOM.SIBL topped the turnover leaders followed by SPCL, SA Port, Ifad Autos and Lafarge Surma Cement.

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