Stocks plunge again

The benchmark index of Dhaka Stock Exchange (DSE) plunged yesterday, breaking a gaining streak of the last two trading days.

The DSEX declined 68.32 points, or 1.17 percent, from that on the day before, to close at 5,761.38.

Similarly, the DSES, the index that represents Shariah-based firms, fell 14.66 points, or 1.16 percent, to 1,251.65 and the DS30, which comprises blue-chip stocks, dipped 13.96 points, 0.69 percent, to 2,007.34.

Turnover, which indicates the volume of shares traded during the session, stood at Tk 468 crore, which is an increase of 0.39 percent from that in the previous session.

In its daily market update, Shanta Securities said the market movement was driven by negative changes in the market capitalisation of travel and leisure, paper and printing, and bank scrips.

Market capitalisation refers to the total value of a company's outstanding shares of stock.

Shinepukur Ceramics topped the turnover list with the rise of 3 percent, followed by Central Pharmaceuticals with 5.21 percent, Fu-Wang Ceramic Industry with 3.11 percent, and Asiatic Laboratories with 6.78 percent.

Total turnover of block trade, meaning large, privately negotiated securities transactions, stood at Tk 21.7 crore, representing 4.6 percent of the day's total turnover.

Of the issues that were traded on the premier bourse of Bangladesh, 47 advanced, 315 declined, and 35 did not see any price swing.

Bangladesh Industrial Financial Company topped the gainers' list with a rise of 6.25 percent, followed by National Tea Company, Progressive Life Insurance Company and Maksons Spinning Mills with 4.41 percent, 4.21 percent and 4.13 percent respectively.

IT Consultants, Intech, ICB AMCL First Agrani Bank Mutual Fund, eGeneration, Shinepukur Ceramics and Kay & Que (Bangladesh) were also on the gainers' chart.

Emerald Oil Industries shed the most, losing 9.82 percent, and was followed closely by Jute Spinners, Khulna Printing & Packaging and Golden Harvest Agro Industries, each of which lost over eight percent.

IPDC Finance, Tallu Spinning Mills, Aftab Automobiles, Golden Son and Asiatic Laboratories were also on the list of those suffering significant losses.

The market closed in the red, where all the sectors which account for large market capitalisation posted negative performances, according to the daily market update by BRAC EPL Stock Brokerage.

Non-bank financial institutions (NBFI) experienced the highest loss of 2.35 percent, followed by pharmaceuticals (1.48 percent), telecommunication (1.32 percent), food and allied (1.27 percent), engineering (1.04 percent), bank (0.95 percent), and fuel and power (0.52 percent).

Square Pharmaceuticals, Trust Bank, IT Consultants, Olympic and National Tea Company were the top five pulling the index up.

Renata, Beximco Pharmaceuticals, Beacon Pharmaceuticals, British American Tobacco Bangladesh and BRAC Bank were the top five dragging the index down.

Chittagong Stock Exchange witnessed a similar trend as the Caspi, the main index of the port city bourse, fell 117 points, or 0.70 percent, to close at 16,511.66 points.