Stocks extend losses for third straight day

Business Report :
Stocks extended their losing streak for the third consecutive session on Monday as cautious investors continued their profit booking sell-off.
Small-cap stocks, which witnessed sharp gains in the past few days, saw a price correction, taking the market index slightly lower, market insiders said.
However, insurance stocks rebounded, and eight insurers out of the top 10 gainers came from the general insurance sector.

After witnessing choppy trading, DSEX, the benchmark index of the Dhaka Stock Exchange, finally dropped 4.68 points to settle at 6,337. The DSEX lost more than 28 points in the past three trading days. The DS30 Index, which consists of blue-chip companies, shed 5.32 points to 2,166, and the DSES index, which represents Shariah-based companies, fell 4.46 points to 1,374.
Turnover, a crucial indicator of the market, fell 15 per cent to Tk 6.33 billion from Tk 7.46 billion the previous day.

Fu-Wang Food, a small-cap company, dominated the turnover chart, with shares worth Tk 303 million changing hands, closely followed by Rupali Life Insurance, Khan Brothers, Sea Pearl Beach Resorts, and Crystal Insurance.

Of the 357 issues traded, 102 closed lower, 69 closed higher, and 186 remained unchanged. The Chittagong Stock Exchange (CSE) also ended lower, with the CSE All Share Price Index (CASPI) losing 17 points to settle at 18,722.

The port city’s bourse traded 2.86 million shares and mutual fund units, with a turnover value of Tk 87 million.