Stock indexes drop for fourth day
Indexes of stock markets in Bangladesh maintained their losing streak for a fourth straight trading day yesterday as skittish investors made fresh bets on lucrative blue-chip stocks amid price fluctuations.
A Dhaka-based investor said the situation of the market remained volatile as the interim government was yet to take any tangible measures to bring back good governance in the market.
He also acknowledged that it would take some time, for new chairmen had been appointed at the Bangladesh Securities and Exchange Commission and Dhaka Stock Exchange (DSE) after the fall of the Sheikh Hasina-led Awami League government.
The benchmark index of the DSE edged down by 60.13 points, or 1.04 percent, from that on the day before to close at 5,715.
Likewise, the DSES, the index that represents Shariah-based companies, dropped 16.46 points, or 1.32 percent, to 1,229 and the DS30, the index that is composed of blue-chip firms, slipped 27.87 points, or 1.31 percent, to 2,093.
The CDSET index, for shares of companies which account for large amounts in market capitalisation, which refers to the total value of their shares at present, also went down by 1.08 percent to 1,126.18 points.
Chittagong Stock Exchange also saw an identical downward trend as its all-share price index plunged 185.92 points, or 1.12 percent, to settle the day at 16,430.
Most of the sectors which represent such large-cap stocks posted a negative performance yesterday, according to the daily market update by BRAC EPL Stock Brokerage.
Telecommunication experienced the highest loss of 2.91 percent, followed by food and allied, non-bank financial institutions (NBFI) and pharmaceuticals which logged losses of 1.85 percent, 1.84 percent and 1.05 percent respectively.
Other sectors which suffered losses include banking (0.80 percent), engineering (0.72 percent) and fuel and power (0.13 percent).
Jute, tannery, and fuel and power were the top three sectors that closed in the positive.
Turnover, meaning the total value of shares traded at the country's premier bourse, stood at Tk 518.6 crore, a decrease of 37.75 percent compared to the previous day's trading session.
The banking sector dominated the turnover chart, accounting for 22.18 percent of the day's total market turnover.
The contribution of the block trades, meaning high volume transactions in securities that are privately negotiated and executed outside of the open market, was 3.8 percent of the day's overall market turnover.
Grameenphone was the most traded share with a turnover of Tk 53.4 crore.
Out of the 397 issues that were traded on the DSE, prices of 64 scrips increased, 301 declined and 32 did not witness any price movements.
Stocks of Al-Arafah Islami Bank, BRAC Bank, Navan Pharmaceuticals, Pragati Life Insurance, Midland Bank, JMI Hospital Requisite Manufacturing, MJL Bangladesh, Power Grid Company of Bangladesh, United Commercial Bank and Lub-rref Bangladesh drew investors the most, according to LankaBangla Financial Portal.
Islami Bank Bangladesh, Grameenphone, BAT Bangladesh, Renata, Beximco Pharmaceuticals, Olympic Industries, National Bank, Robi Axiata, IFIC Bank and LafargeHolcim Bangladesh displayed a poor performance.
Aman Feed topped the gainers' chart with a rise of 7.08 percent.
Desh Garments, NRB Bank, Al-Arafah Islami Bank, Lub-rref Bangladesh, Midland Bank and Pragati Life Insurance showcased a strong performance.
Navana Pharmaceuticals, Hami Industries, Saiham Cotton Mills and Al-Haj Textile Mills were also on the gainers' list.
Islami Bank Bangladesh shed the most, losing 4.78 percent.
IDLC Finance, National Tea Company, Heidelberg Materials Bangladesh, Union Bank, Beximco Pharmaceuticals, Shinepukur Ceramics, Rupali Life Insurance, Orion Infusion, Desh Bandhu Polymer and Taufika Foods and Lovello Ice-cream also suffered losses.
Comments