'Z' stocks tumble: DSE index slips 16 points
Staff Reporter :
After six consecutive working days of decline, the stock market showed signs of recovery with a two-day rise earlier this week. However, it slipped back into negative territory yesterday, with ‘Z’ category shares dominating the list of top decliners.
Out of the top 10 falling stocks, seven belong to the ‘Z’ category, with the top three – Safco Spinning, Khulna Printing and Packaging, and Family Tax – classified as junk shares.
The leading decliners on the Dhaka Stock Exchange (DSE) yesterday were Safco Spinning, Khulna Printing and Packaging, Family Tax, Index Agro, HR Textile, Newline Textile, Hami Industries, Fareast Finance, Associated Oxygen, and Jute Spinners.
Among these, Safco Spinning, Khulna Printing and Packaging, Family Tax, Newline Textile, Hami Industries, Fareast Finance, and Jute Spinners are listed under the ‘Z’ category. Meanwhile, Index Agro and Associated Oxygen are ‘A’ category shares, and HR Textile is in the ‘B’ category.
According to sources from DSE and Chittagong Stock Exchange (CSE), the main index of the DSE, DSEX, closed 16.37 points lower at 5,208 yesterday. The DSE Shariah Index fell by 3.79 points to 1,162, while the DS30 Index showed a slight increase of 0.55 points to close at 1,930. A total of 403 stocks and units were traded on the DSE. Of these, 79 gained in price, 258 declined, and 66 remained unchanged.
The biggest losers yesterday included Safco Spinning (-8.74 per cent ), Khulna Printing and Packaging (-7.50 per cent ), Family Tax (-7.14 per cent ), Index Agro (-7.09 per cent ), HR Textile (-6.53 per cent ), Newline Textile (-6.41 per cent ), Hami Industries (-5.91 per cent ), Fareast Finance (-5.71 per cent ), Associated Oxygen (-5.59 per cent ), and Jute Spinners (-5.01 per cent ). The total turnover stood at Tk 402.43 crore, lower than the Tk 450.16 crore traded on the previous working day.
Investor Hamadur Rahman, who attempted to sell his 100 shares of Safco Spinning, expressed his frustration at being unable to sell due to the sharp price fall. He lamented, “No one pays attention to those of us who are losing everything. We hope the market will improve, but it seems to worsen day by day.”
