Stocks fall for the third day

The stock market indices in Bangladesh extended their downward trend for the third consecutive day, largely due to the poor performance of large-cap and blue-chip shares amid a lack of investor confidence.
DSEX, the broad index of the Dhaka Stock Exchange (DSE), shed by 50.49 points, or 0.95 percent from the previous day before closing the day at 5,265.
Similarly, the DSES index representing Shariah-based companies slipped by 12.40 points, or 1.04 percent, to 1,175.
In the blue-chip segment, the DS30 index dipped by 11.86 points, or 0.60 percent, to 1,953.
The shares of Islami Bank Bangladesh, Grameenphone, Renata, Kohinoor Chemicals, Beacon Pharmaceuticals, National Bank, Al-Arafah Islami Bank, Prime Bank, Orion Pharma and Best Holdings suffered losses.
Of them, Islami Bank alone was liable for 8.52 points.
However, Khan Brothers PP Woven Bag Industries, Bangladesh Shipping Corporation, Pragati Life Insurance, Olympic Industries, Beach Hatchery, Premier Bank, Legacy Footwear Limited, BRAC Bank, LafargeHolcim Bangladesh PLC and Evince Textiles Limited logged profits.
However, none of the companies experienced double-digit growth in share prices, according to the daily market update by LankaBangla Financial Portal.
Khan Brothers PP Woven Bag Industries chalked out over 4 percent growth.
Of the issues that changed hands on the DSE trading floor, 63 saw a price hike, 292 closed lower and 39 did not see any price fluctuation.
Turnover, which indicates the total value of shares traded on the country’s premier bourse, stood at Tk 559 crore, an increase of 3.34 percent compared to the previous trading session.
The non-bank financial institutions (NBFIs) sector dominated the turnover chart accounting for 17.98 percent of the total turnover.
Block trades, which are high-volume transactions in securities that are privately negotiated and executed outside the open market, contributed 21.2 percent of the overall market turnover.
Bangladesh Shipping Corporation emerged as the most traded share, with a turnover of Tk 21.7 crore.
Sector-wise, miscellaneous and tannery were the two sectors that closed in the positive territory, as per the daily market by UCB Stock Brokerage.
However, jute, NBFI and engineering became the top three sectors that closed in the negative today.
All sectors with high market capitalisation posted negative performance, BRAC EPL Stock Brokerage said in its daily market update.
The NBFIs sector experienced the highest loss of 3.31 percent, followed by engineering 2.57 percent, pharmaceuticals 1.23 percent, telecommunication 1.16 percent, banking 1.04 percent, fuel and power 0.58 percent and food and allied 0.57.
At the Chittagong Stock Exchange (CSE), the CSE All-Share Price Index (CASPI) witnessed a similar falling trend as the key index of the port city bourse went down by 55.55 points, or 0.37 percent, to 14,796.