Dhaka stocks end lower

Dhaka stocks fell on the first trading day of the week, despite the debut of two issues yesterday.

The benchmark index of Dhaka Stock Exchange, DSE General Index, dropped 18.38 points, or 0.68 percent, to 2,677.19 points. The DSE All Share Price Index declined by 17.11 points, or 0.76 percent to 2,210.04 points.

The indices would have lost around 45 points if the two companies had not debuted, market analysts said. The two companies -- BSRM Steels and Republic Insurance Company -- added some 25 points to the indices.

BSRM Steels has joined the stock market by floating 20 lakh ordinary shares of Tk 100 each. Republic Insurance has joined in by offloading 0.9 lakh ordinary shares of Tk 100 each.

The market looked bearish from the beginning except the gain driven by the two new companies. The market lost at a prolonged but steady rate throughout the day.

Most securities traded down on the DSE. Of the 241 traded issues, 39 advanced, 196 declined and six remained unchanged.

A total of 2,69,13,286 shares worth Tk 338.01 crore changed hands on the premier bourse.

Titas Gas topped the turnover leaders on the DSE with 7,02,250 traded shares worth Tk 34.95 crore. The other turnover leaders were Beximco Pharma, Beximco, BSRM Steels, Summit Power, Shinepukur Ceramics, ACI Formulations, Summit Alliance Port, AIMS 1st Mutual Fund and Grameen Mutual Fund One: Scheme Two.

Chittagong stocks also recorded a fall. The CSE Selective Categories Index declined 88.48 points, or 1.62 percent, to 5,341.56 points. The CSE All Share Price Index also fell 127.32 points, or 1.52 percent to 8,204.28 points.

A total of 47,20,839 shares worth Tk 46.94 crore changed hands on the Chittagong Stock Exchange. Of the 130 traded scrips on the port city bourse, 22 advanced, 106 declined and two remained unchanged.

BSRM Steels topped the turnover leaders on the CSE with 1,45,850 traded shares worth Tk 6.99 crore. The other turnover leaders were Beximco Pharma, Beximco, Titas Gas, Shinepukur Ceramics, ACI Formulations, AIMS 1st Mutual Fund, Grameen Mutual Fund One: Scheme Two, Summit Power and Jamuna Oil.