Stocks end week with a dip
Stock markets in Bangladesh ended lower yesterday a day after rising as investors went on a selling spree to make short-term profits amid the price movement.
As a result, indexes of both markets of the country fell sharply due to the lacklustre performance of sectors which account for large amounts in market capitalisation, which refers to the total value of their shares at present.
Subsequently, the associated large-cap index, CDSET, slipped by 0.81 percent to 1,162.54 points.
It had an impact on the other indices also.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), edged down by 49 points, or 0.82 percent from that on the day prior to close at 5,903.84.
Similarly, the DSES, the index for the Shariah-based stocks, dropped 5.62 points, or 0.44 percent to 1,264.72 and the DS30, the index for the blue-chip shares, slumped 18 points, or 0.80 percent to 2,179.34.
The Chittagong Stock Exchange (CSE) saw a similar trend as the CASPI, the broad index of the port city bourse, dropped by 110.47 points, or 0.64 percent, to settle at 17,031.57.
The day's turnover, which indicates the total value of the scrips traded on the DSE, decreased by 19.69 percent to Tk 99.9 crore compared to the previous day's trading session.
The banking sector dominated the turnover chart, accounting for 18.07 percent of the day's total turnover.
The contribution of the block trades, meaning high volume transactions in security that are privately negotiated and executed outside of the open market, was 3.3 percent of the overall market turnover.
Grameenphone was the most traded share with a turnover of Tk 85.5 crore.
DBH Finance was on the top of the gainers' list with an increase of 9.86 percent, closely followed by Mithun Knitting and Dyeing, which recorded a rise of 9.80 percent, and Phoenix Finance and Investments, which logged a rise of 9.68 percent.
Olympic Industries, JMI Syringes & Medical Devices, Quasem Industries, Prime Textile Spinning Mills, Singer Bangladesh, Saihan Cotton Mills and Square Textiles were also on the gainers' list.
Delta Life Insurance Company shed the most, losing 5 percent.
Sonali Life Insurance Company, Investment Corporation of Bangladesh, Orion Infusion, Al-haj Textile Mills, Asia Pacific General Insurance Company, Asia Pacific General Insurance Company, New Line Clothings and Popular Life Insurance Company also featured on the losers' chart that suffered losses the most.
Of the issues that changed hands on the trading floor of the country's premier bourse, the prices of 91 advanced, 275 declined and 32 remained unchanged.
In its daily market update, UCB Stock Brokerage said services and real estate, cement, and engineering became the top three sectors that closed in the positive. However, life insurance, paper and printing, and jute were the top three sectors that closed in the negative.
Most large-cap sectors posted a negative performance, according to BRAC EPL Stock Brokerage.
The banking sector experienced the highest loss of 2 percent, followed by telecommunication (1.17 percent), non-banking financial institutions (0.51 percent), food and allied (0.22 percent), fuel and power (0.15 percent), pharmaceuticals (0.21 percent) and engineering (0.40 percent).
In case of blue-chip companies, Olympic Industries, Renata, DBH Finance, Heidelberg Materials Bangladesh PLC, Singer Bangladesh, Marico Square Pharmaceuticals, Mobil Jamuna Lubricants Bangladesh, Confidence Cement and Saif Powertec drew investors the most, according to LankaBangla Finance Portal.
Olympic Industries logged a 6.68 percent growth, the highest of them all.
No entity posted double-digit growth in share prices.
However, BRAC Bank, Islami Bank Bangladesh, Beximco Pharmaceuticals, City Bank, Beacon Pharma, Robi Axiata, National Bank, Al-Arafah Islami Bank, United Commercial Bank and Delta Life Insurance suffered losses.
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