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Dhaka stocks closed lower amid on Thursday, extending the losing streak for the second consecutive session.
The benchmark DSEX index shed 51 points or 0.76 per cent to settle at 6,702. The Shariah-based DSES index lost 10 points or 0.71 per cent at 1,423 while the blue-chip comprising DS30 index shed 24 points 0.96 per cent at 2,511.
Indices settled down as investors were jittery owing to the market’s prolonged volatility and participated in sell-offs amid the bourse’s ongoing pessimism, said EBL Securities in a note.
However, the insurance sector dominated the trading board as investors rushed to take position in the rallying insurance stocks to restructure portfolio, it said.
Amid the falling market, insurance sector continued to rally as out of listed 52 insurance companies, 44 gained, and eight declined. Of the top ten gainers, eight came from the insurance sector driven by Asia Pacific Insurance surging over 7 per cent. Asia Insurance, Global Insurance, Provati Insurance, Purabi General Insurance, Sonali Insurance, Desh General Insurance Company and Karnaphuli Insurance were among the top ten gainers.
Losers strongly outpaced the gainers as out of the 378 issues traded, 82 advanced, 261 declined, and 35 remained unchanged. The low-paid-up capital continued to face correction after rallying over the weeks since the securities regulator instructed them to raise paid-up capital up to Tk 30 crore. The top losers included Khan Brothers PP Woven Bangladesh Industries, Tamijuddin Textile Mills, Premier Leasing, National Tea Corporation and Libra Infusion.
Fortune Shoes was the most traded stock with shares worth almost Tk 54 crore, followed by Beximco Ltd, Beacon Pharmaceuticals, Asia Insurance, One Bank, Sonali Paper and Genex Infosys.
The port city bourse, CSE, also settled in red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) declined by 83.7 points and 138.3 points respectively.
