Stocks fall after a three-day gaining streak
Major indices of the stock market in Bangladesh fell yesterday, breaking a three-day gaining streak as skittish investors put fresh bets on lucrative shares to pocket short-term gains amidst price fluctuations.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), dropped 25.66 points, or 0.44 percent, from the previous day and closed at 5,803.
Likewise, the DSES, the index that is composed of the Shariah-compliant companies, slipped 9.08 points, or 0.73 percent, to 1,236.
However, the DS30, the index for the blue-chip firms, grew 5.27 points, or 0.25 percent, to 2,134.
At Chittagong Stock Exchange, the CASPI, the broad index of the port city bourse, plunged 31.16 points, or 0.19 percent, to settle at 16,592.
Of the issues that changed hands on the trading floor of the DSE, prices of 80 went up, 291 ended lower and 26 did not witness any price movement.
The day's turnover stood at Tk 1,065 crore, an increase of 14.13 percent compared to the previous day's trading session.
The banking sector dominated the turnover chart, accounting for 19.09 percent of the day's total market turnover.
Block trades, meaning high-volume transactions in securities that are privately negotiated and executed outside of the open market, contributed 3.5 percent of the day's overall market turnover.
BRAC Bank was the most traded share with a turnover of Tk 85.3 crore.
Sector-wise, bank, life insurance and food and allied closed in the positive while paper and printing, services and real estate and ceramics in the negative, according to UCB Stock Brokerage.
In another daily market update, BRAC EPL Stock Brokerage said most of the large-cap sectors, meaning those which account for large amounts in market capitalisation, which is the total value of their shares at present, posted a negative performance.
Non-bank financial institutions (NBFIs) experienced the highest loss of 1.76 percent followed by telecommunication, pharmaceuticals, engineering and fuel & power with 0.52 percent, 0.46 percent, 0.44 percent and 0.21 percent respectively.
Shares of companies like BRAC Bank, Linde Bangladesh, City Bank, United Commercial Bank, Islami Bank Bangladesh, Delta Life Insurance, BAT Bangladesh, Khan Brothers PP Woven Bag Industries, MJL Bangladesh and Bangladesh Submarine Cables drew investors the most, according to LankaBangla Financial Portal.
Beximco Pharmaceuticals, Best Holdings, Olympic Industries, Premier Bank, LafargeHolcim Bangladesh, Robi Axiata, Bangladesh Steel Re-Rolling Mills, Orion Pharma, Orion Infusion and Fortune Shoes did not perform that well.
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