FE Report
Stocks extended their losing streak to the third straight session Sunday with turnover remained sluggish as the investors were indecisive on fresh funds injection and followed cautious stance.
Amid the countrywide shutdown enforced by Islamic groups, the stock market opened at 10:30am as usual. But the investors' attendance was relatively low at the brokerage houses.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 5,111.63 points, shedding 42.46 points or 0.82 per cent. In the last three consecutive sessions, DSEX lost around 122 points or 2.33 per cent.
The other two indices also closed lower. The DS30, comprising blue chips lost 16.78 points or 0.86 per cent to close at 1,926.89 points. The DSE Shariah Index dropped 10.86 points or 0.89 per cent to close at 1,205.37 points.
The total turnover at DSE dropped further and amounted to Tk 5.29 billion, which was 7.51 per cent lower compared to previous session's value of Tk 5.72 billion.
The investors' attention was remained concentrated on power, pharmaceuticals and engineering - the sectors that accounted for 23 per cent, 12 per cent and 10 per cent respectively of the day's total turnover.
"The country's stock market continued its bearish vibe. Quarterly earnings declarations of several listed companies failed to restore the investors' optimistic outlook," said International Leasing Securities in an analysis.
IDLC Investments said: "Despite favourable corporate earnings disclosures, the fear of downturn sustained amid investors and subsequently dropped the equity market".
"Investors' shaky confidence assisted to lower market participation, shedding another 42.5 points from DSEX".
Since, most of the earnings disclosures remained due, investors were indecisive on further fresh funds injection, the merchant bank added.
"Investors continued their cautious trading behaviour as corporate earnings started to hit on the screen," said LankaBangla Securities, a stock brokerage.
"Market turnover is not as much as vibrant like few weeks ago as investors are still eyeing on corporate earnings," said the stock brokerage.
Zenith Investments said: "This correction is not unusual but sometimes continuous correction often throws investors in a state of panic especially those investors who had just recently entered the market".
"The investors must not get panicked with usual market correction because what starts as mild concern rapidly turns into outright fear, followed by relief as things starts to stabilize again," said the Zenith analysis.
Among the large cap sectors, NBFIs posted the highest gain of 2.59 per cent. Telecommunications also yield decent gain of 0.66 per cent.
The other major sectors retraced -- banks and power lost 0.78 per cent and 0.38 per cent respectively. They were followed by pharmaceuticals and food and allied sectors which lost 0.10 per cent and 0.18 per cent respectively.
The losers took a strong lead over the gainers as out of 303 issues traded, 190 declined, 82 advanced and 31 remained unchanged on the DSE floor.
Activities decreased in the major bourse (DSE) where trade were down by 11.47 per cent respectively, but volume was up by 0.38 per cent. A total of 0.098 million trades were executed in the day's trading session with 114.48 million securities of trading volume.
The total market capitalization of the DSE came down to 3,375.73 billion against Tk 3,384.92 billion in the previous session.
GP was the most traded stock with shares worth Tk 295.84 million changing hands followed by Titas Gas, KPCL, MJL BD and Square Pharma.
Shahjibazar Power Company was the day's highest gainer for the third running session, posting a rise of 9.96 per cent while Beacon Pharma was the day's worst loser, slumping by 8.05 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed with its Selective Categories Index - CSCX - lost 62.89 points to close at 9,614.97 points.
Losers beat gainers 160 to 46, with 13 issues remaining unchanged at the port city bourse that traded 9.94 million shares and mutual fund units, turnover value of Tk 385.64 million.
Stocks extended their losing streak to the third straight session Sunday with turnover remained sluggish as the investors were indecisive on fresh funds injection and followed cautious stance.
Amid the countrywide shutdown enforced by Islamic groups, the stock market opened at 10:30am as usual. But the investors' attendance was relatively low at the brokerage houses.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 5,111.63 points, shedding 42.46 points or 0.82 per cent. In the last three consecutive sessions, DSEX lost around 122 points or 2.33 per cent.
The other two indices also closed lower. The DS30, comprising blue chips lost 16.78 points or 0.86 per cent to close at 1,926.89 points. The DSE Shariah Index dropped 10.86 points or 0.89 per cent to close at 1,205.37 points.
The total turnover at DSE dropped further and amounted to Tk 5.29 billion, which was 7.51 per cent lower compared to previous session's value of Tk 5.72 billion.
The investors' attention was remained concentrated on power, pharmaceuticals and engineering - the sectors that accounted for 23 per cent, 12 per cent and 10 per cent respectively of the day's total turnover.
"The country's stock market continued its bearish vibe. Quarterly earnings declarations of several listed companies failed to restore the investors' optimistic outlook," said International Leasing Securities in an analysis.
IDLC Investments said: "Despite favourable corporate earnings disclosures, the fear of downturn sustained amid investors and subsequently dropped the equity market".
"Investors' shaky confidence assisted to lower market participation, shedding another 42.5 points from DSEX".
Since, most of the earnings disclosures remained due, investors were indecisive on further fresh funds injection, the merchant bank added.
"Investors continued their cautious trading behaviour as corporate earnings started to hit on the screen," said LankaBangla Securities, a stock brokerage.
"Market turnover is not as much as vibrant like few weeks ago as investors are still eyeing on corporate earnings," said the stock brokerage.
Zenith Investments said: "This correction is not unusual but sometimes continuous correction often throws investors in a state of panic especially those investors who had just recently entered the market".
"The investors must not get panicked with usual market correction because what starts as mild concern rapidly turns into outright fear, followed by relief as things starts to stabilize again," said the Zenith analysis.
Among the large cap sectors, NBFIs posted the highest gain of 2.59 per cent. Telecommunications also yield decent gain of 0.66 per cent.
The other major sectors retraced -- banks and power lost 0.78 per cent and 0.38 per cent respectively. They were followed by pharmaceuticals and food and allied sectors which lost 0.10 per cent and 0.18 per cent respectively.
The losers took a strong lead over the gainers as out of 303 issues traded, 190 declined, 82 advanced and 31 remained unchanged on the DSE floor.
Activities decreased in the major bourse (DSE) where trade were down by 11.47 per cent respectively, but volume was up by 0.38 per cent. A total of 0.098 million trades were executed in the day's trading session with 114.48 million securities of trading volume.
The total market capitalization of the DSE came down to 3,375.73 billion against Tk 3,384.92 billion in the previous session.
GP was the most traded stock with shares worth Tk 295.84 million changing hands followed by Titas Gas, KPCL, MJL BD and Square Pharma.
Shahjibazar Power Company was the day's highest gainer for the third running session, posting a rise of 9.96 per cent while Beacon Pharma was the day's worst loser, slumping by 8.05 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed with its Selective Categories Index - CSCX - lost 62.89 points to close at 9,614.97 points.
Losers beat gainers 160 to 46, with 13 issues remaining unchanged at the port city bourse that traded 9.94 million shares and mutual fund units, turnover value of Tk 385.64 million.
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