FE Report
Stocks returned to the red Tuesday after previous day's marginal gain with turnover hitting to three-month low on the prime bourse as fear of further fall taking toll on investors' sentiment.
The market opened with an upward mood, but could not sustain as the session progressed. At the end of the session, DSEX, the key index of the Dhaka Stock Exchange (DSE) went down by 28.40 points or 0.55 per cent to close at 5,128.84 points.
The other two indices also ended in the red. The DS30, comprising blue chips lost 12.98 points or 0.66 per cent to close at 1,933.53 points. The DSE Shariah Index shed 6.53 points or 0.53 per cent to close at 1,206.86 points.
The turnover of the country's premier bourse - DSE dipped below Tk 5.0 billion mark and amounted to Tk 4.62 billion which was 8.51 per cent lower over the previous day's value of Tk 5.05 billion. It was also the lowest turnover since Tk 4.28 billion on August 3, 2014.
The investors' attention was mostly concentrated on power, banks and pharmaceuticals - the sectors that accounted for 22.94 per cent, 13.73 per cent and 13.71 per cent respectively of the day's total turnover.
"Fear of further fall continued taking toll on investors' sentiment as well as market," commented IDLC Investments in an analysis.
In spite of better earnings disclosures, market level negativity dwindled away market momentum. News on positive Q3 earnings disclosures by most of the banks and allowing of FDI in textile sector could not encourage investors much, said the merchant bank.
International Leasing Securities said: "Stocks all over the major sectors declined amidst the lack of investors' participation and optimism".
Most of the investors are shifting their attention towards selected stocks from various sectors rather their concentrating their funds in one particular sector, said the International Leasing.
"With sideways movement of index over last few trading sessions, market turned in mixed performance on Tuesday," said LankaBangla Securities.
Market experienced some early gains, where some stocks pulled back off their ground as investors remained cautious seeing corporate earnings of companies, said the stock broker.
NBFI stocks tumbled by 2.92 per cent during the session while bank continued to rally on revival of quarterly earnings with 0.2 per cent return in market capitalization, said the stock broker.
Telecommunication also lost by 1.53 per cent. Pharmaceutical and Power closed 0.88 per cent and 0.46 per cent lower respectively. Food and allied sector also posted negative yield of 0.14 per cent.
The losers took a lead over the gainers as out of 304 issues traded, 175 declined, 96 advanced and 33 remained unchanged on the DSE floor.
Activities decreased in the major bourse (DSE) where trade was down by 3.32 per cent respectively, but volume was up 7.83 per cent. A total of 0.093 million trades were executed in the day's trading session with 108.82 million securities of trading volume.
The total market capitalization of the DSE stood at Tk 3,381.22 billion against Tk 3,401.92 billion in the previous session.
CVO Petrochemicals Refinery was the most traded stock with shares worth Tk 281.90 million changing hands followed by SPPCL, GP, Brac Bank and MJL BD.
The port city bourse, Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index - CSCX - lost 51.72 points to close at 9,623.99 points.
Losers beat gainers 136 to 62, with 22 issues remaining unchanged at the port city bourse that traded 9.39 million shares and mutual fund units, turnover value of Tk 341.92 million
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