Dhaka stocks break gaining streak

The benchmark index of the Dhaka Stock Exchange (DSE) fell today, breaking a three-day gaining streak as investors cautiously traded on selective shares to pocket short-term gains amidst price fluctuations.

The DSEX shed 17.93 points, or 0.33 percent from the previous day to close at 5,347 today.

The other two indices of the DSE showcased a mixed performance with the DSES index for the Shariah-based companies marginally rising by 0.99 points to 1,192 while the DS30 index for the blue-chip firms slipping 0.01 points to 1,967.

Of the issues that changed hands on the DSE floor, 85 scrips saw a price hike, 281 closed lower and 33 did not witness any price movement.

The day's turnover, which indicates the total value of shares traded at the DSE, stood at Tk 651 crore, a decrease of 22.44 percent compared to the previous day's trading session.

The pharmaceuticals sector dominated the turnover chart, accounting for 19.10 percent of the total.

Block trades, on the other hand, contributed 2.7 percent of the overall market turnover.

Orion Pharma Ltd emerged as the most traded share, with a turnover of Tk 25.5 crore.

Large-cap sectors posted mixed performance today, according to the daily market update by BRAC EPL Stock Brokerage.

Engineering experienced the highest gain of 2.45 percent, followed by the non-bank financial institutions 0.89 percent, pharmaceuticals 0.31 percent, and the fuel & power sector 0.12 percent.

Some sectors, however, failed to manage gains, including the food & allied, which posted a 0.43 percent fall while the banking sector posted 0.45 percent fall and telecommunication 0.67 percent.

The Chittagong Stock Exchange (CSE) saw a similar falling trend as the CSE All-Shares Price Index (CASPI), the key index of the port city bourse, dipped by 2.69 points to settle at 14,879.

Shares of Beacon Pharmaceuticals, Padma Oil Company, Orion Pharma, Islami Bank Bangladesh, Beximco Pharmaceuticals, Orion Infusion, Midland Bank, Prime Bank, Jamuna Oil Company and Best Holdings drew investors mostly, according to the daily market update by LankaBangla Financial Portal.

None of the companies saw a double-digit growth in share price. The drug maker, Beacon Pharmaceuticals, made the highest gain of 4.36 points.

However, shares of BRAC Bank, Renata, Olympic Industries, Khan Brothers PP Woven Bag Industries, Delta Life, Square Pharma, Eastern Bank, United Commercial Bank, Robi Axiata and IFIC Bank suffered losses.