Stocks fall for second day

Stocks in Bangladesh continued to fall today for the second consecutive day when the turnover eroded by around 40 per cent.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 58 points, or 0.90 per cent, to 6,431 to end the day.

Turnover, an important indicator of the market, declined 39.9 per cent to Tk 1,395 crore, down from the previous day's Tk 2,497 crore.

Of the securities, 38 advanced, 263 declined, and 68 did not show any price movement.

Meanwhile, DS30, the blue-chip companies' index, lost 0.77 per cent and DSES, the shariah-based index, fell 0.40 per cent respectively.

Sea Pearl Beach Resort & Spa surged 9.98 per cent, Sunlife Insurance rose 6.80 per cent, and IPDC Finance advanced 5.66 per cent.

Other major gainers included Quasem Industries and Fareast Islami Life Insurance.

Sonargaon Textiles declined the most with a 9.95 loss. Eastern Housing, Ratanpur Steel Re-Rolling Mills, SEML FBLSL Growth Fund, and Bashundhara Paper Mills were among the major losers.

JMI Hospital Requisite Manufacturing was the most-traded stock on the day, with its scrips worth Tk 93 crore changing hands. Nahee Aluminum Composite Panel, Eastern Housing, Beximco Ltd, and Orion Pharmaceuticals also witnessed significant turnover.

The shares on the Chittagong Stock Exchange (CSE) also fell today.

The CASPI, the all-share price index of the bourse in the port city of Chattogram, dropped 177 points, or 0.92 per cent, to close at 18,904.

On the CSE, 49 stocks advanced, 184 declined and 41 remained unchanged.