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Stocks extend losses for 7th day

Update : 30 Aug 2016, 12:31 AM
The market moved between negative and positive throughout the entire session amid narrow band, making intraday volatility 20 points. The benchmark index of Dhaka Stock Exchange, DSEX, saw a fractional loss of 0.6 points to 4,534. The DS30 index, comprising blue chips, lost only over 4 points to 1,736. The DSE Shariah Index, DSES, inched around 2 points down to 1,101. However, the Chittagong Stock Exchange Selective Category Index CSCX rose over 2 points to 8,475. Trading activities continued to shrink ahead of Eid ul-Azha as the DSE turnover stood at Tk410 crore, down 12% over the previous session. IT sector was the worst loser, shedding more than 2%. Jute came second with a drop of around 2%, followed by mutual funds, and paper & printing. Bank, telecommunications, ceramics, tannery and pharmaceuticals closed marginally lower. On the other hand, general insurance sector shone on the day, gaining over 4%. Most other sectors, including power, cement, engineering, non-banking financial institutions and food & allied, ended marginally higher. Of the total 323 companies traded, 148 ended up and 126 down while 49 remained unchanged. MJL was the most-traded share for the fourth straight day with a turnover worth around Tk15 crore. It was followed by National Tubes, BSRM Limited, FAR Chemical, Shahjibazar Power Company Limited and Al-haj Textile. Savar Refractory was the biggest loser falling over 9%, followed by Modern Dyeing (8.5%), Samata Leather Complex (6%), Zeal Bangla Sugar Mills (4.4%), Kohinoor Chemical Chemicals Company (4.4%), Hakkani Pulp and Paper (4.4%) and Mithun Knitting (3.7%). FAR Chemical was the best performer rising about 10%, followed by Mercantile Insurance (9.8%), Continental Insurance (9.3%), Agrani Insurance (8.3%), Global Insurance (8%), Northern Insurance (7.3%) and Federal Insurance (7%).
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