DSEX dips below 4,800-mark again
FE Report
The stock market saw a major setback Monday with prime index of the main bourse dipping below 4,800-mark once again as the ongoing political crisis is deepening day by day.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) hit below the 4800-mark after three sessions and closed at 4,769.47 points, shedding 61.70 points or 1.27 per cent after witnessing volatility throughout the session.
The two other
indices also closed lower. The DS30 index, comprising blue chips lost
29.78 points or 1.65 per cent to close at 1,775.11 points. The DSE
Shariah Index (DSES) shed 14.64 points or 1.27 per cent to close at
1,132.48 points.
Turnover on DSE stood at Tk 2.80 billion, registering an increase of 6.06 per cent over the previous session's value of Tk 2.64 billion.
The investors' attention was mostly focused on engineering, power and pharma - the sectors that accounted for 13.0 per cent, 12.7 per cent and 12.1 per cent respectively of the day's total turnover.
"Stocks suffered another setback as short-term profit booking attitude from the investors' mounted the sell-off," International Leasing Securities said in an analysis.
Lacklustre trading behaviour from the market participants pushed the board based index of the prime bourse to close 1.28 per cent lower, said the International Leasing.
"The prolonged political strife failed to offer any clear indication of recovery to the investors. Stocks from major sectors witnessed major sell-off which continued throughout the session," the International Leasing Securities said.
IDLC Investments said: "Market saw another bloodbath while investors refrain from investment amid further political unrest".
However, turnover increased to Tk 2.80 billion as investors tried to cash out their position, said the merchant bank.
LankaBangla Securities said: "Market continued to go under selling pressure with DSEX closing the day below 4,800-mark".
The apparel sector has been going through a difficult time for the ongoing political unrest. Owners run their factories below capacity and will soon face a production shortfall due to a dearth of raw materials, said the stock broker, quoting news paper report.
Textile sector made 0.66 per cent loss in market capitalization, weigh by disappointing set of quarterly earnings from this sector. Makson Spinning gave Q1 earnings of Tk 22.72 million, down by 35.32 per cent from same period of previous year.
All the major sectors closed in red while cement disappointed the investors most. Cement posted the highest loss which shed 2.56 per cent. Power and NBFIs went down by 1.78 per cent and 1.47 per cent respectively.
Telecommunication, pharmaceuticals also lost 0.86 per cent and 0.85 per cent respectively. Food and allied and banks also retraced by 0.42 per cent and 0.09 per cent respectively.
The losers took a strong lead over the gainers as out of 313 issues traded, 209 declined, 68 advanced and 36 remained unchanged on the DSE floor.
Activities increased in the major bourse where volume and trade were up by 8.83 per cent and 7.78 per cent respectively. A total number of 0.088 million trades were executed with trading volume of 83.74 million securities.
The market capitalisation on DSE stood at Tk 3,214.02 billion against Tk 3.245.59 billion in the previous session.
Beximco was the most traded stock with shares worth Tk 95.20 million changing hands followed by IFAD Autos, Agni Systems, MJL BD and GP.
Bangas was the day's top gainer, posting a rise of 4.12 per cent while Summit Alliance Port Ltd was the day's worst loser, plunging by 6.88 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also ended lower with its Selective Categories Index - CSCX - lost 115.58 points to close at 8,851.46 points.
Losers beat gainers 178 to 44, with 25 issues remaining unchanged at the port city bourse that traded 8.58 million shares and mutual fund units, turnover value of Tk 241.81 million.
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Turnover on DSE stood at Tk 2.80 billion, registering an increase of 6.06 per cent over the previous session's value of Tk 2.64 billion.
The investors' attention was mostly focused on engineering, power and pharma - the sectors that accounted for 13.0 per cent, 12.7 per cent and 12.1 per cent respectively of the day's total turnover.
"Stocks suffered another setback as short-term profit booking attitude from the investors' mounted the sell-off," International Leasing Securities said in an analysis.
Lacklustre trading behaviour from the market participants pushed the board based index of the prime bourse to close 1.28 per cent lower, said the International Leasing.
"The prolonged political strife failed to offer any clear indication of recovery to the investors. Stocks from major sectors witnessed major sell-off which continued throughout the session," the International Leasing Securities said.
IDLC Investments said: "Market saw another bloodbath while investors refrain from investment amid further political unrest".
However, turnover increased to Tk 2.80 billion as investors tried to cash out their position, said the merchant bank.
LankaBangla Securities said: "Market continued to go under selling pressure with DSEX closing the day below 4,800-mark".
The apparel sector has been going through a difficult time for the ongoing political unrest. Owners run their factories below capacity and will soon face a production shortfall due to a dearth of raw materials, said the stock broker, quoting news paper report.
Textile sector made 0.66 per cent loss in market capitalization, weigh by disappointing set of quarterly earnings from this sector. Makson Spinning gave Q1 earnings of Tk 22.72 million, down by 35.32 per cent from same period of previous year.
All the major sectors closed in red while cement disappointed the investors most. Cement posted the highest loss which shed 2.56 per cent. Power and NBFIs went down by 1.78 per cent and 1.47 per cent respectively.
Telecommunication, pharmaceuticals also lost 0.86 per cent and 0.85 per cent respectively. Food and allied and banks also retraced by 0.42 per cent and 0.09 per cent respectively.
The losers took a strong lead over the gainers as out of 313 issues traded, 209 declined, 68 advanced and 36 remained unchanged on the DSE floor.
Activities increased in the major bourse where volume and trade were up by 8.83 per cent and 7.78 per cent respectively. A total number of 0.088 million trades were executed with trading volume of 83.74 million securities.
The market capitalisation on DSE stood at Tk 3,214.02 billion against Tk 3.245.59 billion in the previous session.
Beximco was the most traded stock with shares worth Tk 95.20 million changing hands followed by IFAD Autos, Agni Systems, MJL BD and GP.
Bangas was the day's top gainer, posting a rise of 4.12 per cent while Summit Alliance Port Ltd was the day's worst loser, plunging by 6.88 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also ended lower with its Selective Categories Index - CSCX - lost 115.58 points to close at 8,851.46 points.
Losers beat gainers 178 to 44, with 25 issues remaining unchanged at the port city bourse that traded 8.58 million shares and mutual fund units, turnover value of Tk 241.81 million.
babulfexpress@gmail.com
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