Dhaka stocks extend losing streak to 8th day

Shinepukur Ceramics, Doreen Power and Runner Autos close the day with the highest gains

The Dhaka Stock Exchange (DSE), the country's premier bourse, has continued a downward spiral as the key index ended in the red for the eighth straight day.

The DSEX shed four more points on Wednesday to close on 5,022 points, as the trade turnovers dipped further to Tk 3 billion.

The share prices began falling in the morning and continued slipping all through Wednesday.

The DSEX last rose on Apr 10, registering 5,025 points at the close as shares worth Tk 5.40 billion changed hands. On Apr 15, Tk 4.45 billion was traded on the market.

The index then began falling along with the trade volume.

On Tuesday, the capital market regulator held a meeting with the top 20 brokerage firms. That, however, did not arrest the slide.

At the close of trading on Wednesday, share prices for most companies were trending down.

According to DSE data, the share prices of 119 of 395 listed companies and funds increased, 214 decreased, and 62 remained at the previous price.

The banking sector contributed the most to DSE trades, followed by the power and energy sector while the engineering sector came in third.

Even amid the dip in trading, investors saw profits in these three sectors, as well as the textile sector.

Shinepukur Ceramics, Doreen Power and Runner Autos closed the day with the highest gains.

On the other hand, Beach Hatchery, ADN Telecom and Heidelberg Cement languished at the bottom with the biggest losses at the close.