FE Report
Stocks slipped into the red territory again Wednesday, with turnover dipping below Tk 4.0 billion-mark again as investors followed cautious stance amid continued instability in the political arena.
The market opened with a positive note, but could not sustain. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 17.37 points or 0.38 per cent to close at 4,513.10 points.
The two other indices also ended in the red. The DS30 index, comprising blue chips lost 8.59 points or 0.49 per cent to close at 1,719.88 points. The DSE Shariah Index (DSES) shed 4.46 points or 0.40 per cent to close at 1,098.66 points.
The total turnover on DSE came down to Tk 3.59 billion, registering a decline of 20.54 per cent over the previous day's four months highest value of Tk 4.52 billion.
The investors' attention was mostly focused on pharma, power and bank - the sectors that accounted for 19.2 per cent, 15.7 per cent and 12.6 per cent of the day's total turnover respectively.
"Impatience and uncertainty could be the main catalysts behind current zigzag move in the index," said IDLC Investments, a merchant bank in an analysis.
The falling market failed to attract activities, which resided at Tk 3.6 billion level. However, investors maintained their interest on particular stocks and sectors as pharmaceuticals captured 19.2 per cent of total turnover, said the merchant bank.
Meanwhile, after last day's appreciation large-cap stocks encountered sell pressure and stumbled, while micro-cap stocks surfaced in the volatile environment, it added.
"The market opened higher, but started to slip after an hour on sell pressure as investors responded to the fresh political jerk regarding the city corporation elections and decided to book short-term profit," said International Leasing Securities.
Trading remained sluggish and the market turnover dropped by 20.54 per cent as most of the investors kept them to the sideline owing to cautious stance, it added.
LanlaBangla Securities said: "Trading session started with a positive mood, but at the end of the day it ended in the red territory as prices of most of the large-cap stocks declined".
On the economic front, the country's foreign currency reserves crossed $23 billion Tuesday for the second time in a month. The central bank's reserves stood at $23.05 billion Tuesday.
Among the major sectors, engineering fell by 2.3 per cent, while largest steel manufacturer BSRM Steels got corrected by 6.2 per cent following unimpressive corporate declaration.
Food and allied posted a significant loss of 1.42 per cent. Telecommunication and power retracted heavily, losing 1.21 per cent and 1.00 per cent respectively. NBFIs and cement also lost 0.71 per cent and 0.63 per cent.
Only pharmaceuticals and banks ended in green, gaining 0.22 per cent and 0.14 per cent respectively.
The losers took a modest lead over the gainers as out of 304 issues traded, 151 declined, 108 advanced and 45 remained unchanged on the DSE floor.
Activities decreased in the major bourse where trade and volume were down by 16.98 per cent and 14.06 per cent respectively. A total number of 0.088 million trades were executed with trading volume of 75.49 million securities.
The market capitalisation on DSE stood at Tk 3,156.14 billion against Tk 3,172.29 billion in the previous session.
MJL BD was the day's top turnover chart with shares worth Tk 223.17 million changing hands followed by Square Pharma, GP, ACI and Shasha Denims.
AB Bank First Mutual Fund was the day's highest gainer, posting a rise of 9.05 per cent while Jute Spinners was the worst loser, plunging by 9.62 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also returned to the red with its Selective Categories Index - CSCX - lost 28.82 points to close at 8,405.50 points.
Losers beat gainers 134 to 73, with 25 issues remaining unchanged at the port city bourse that traded 6.95 million shares and mutual fund units, turnover value of Tk 261.84 million.
babulfexpress@gmail.com
Stocks slipped into the red territory again Wednesday, with turnover dipping below Tk 4.0 billion-mark again as investors followed cautious stance amid continued instability in the political arena.
The market opened with a positive note, but could not sustain. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 17.37 points or 0.38 per cent to close at 4,513.10 points.
The two other indices also ended in the red. The DS30 index, comprising blue chips lost 8.59 points or 0.49 per cent to close at 1,719.88 points. The DSE Shariah Index (DSES) shed 4.46 points or 0.40 per cent to close at 1,098.66 points.
The total turnover on DSE came down to Tk 3.59 billion, registering a decline of 20.54 per cent over the previous day's four months highest value of Tk 4.52 billion.
The investors' attention was mostly focused on pharma, power and bank - the sectors that accounted for 19.2 per cent, 15.7 per cent and 12.6 per cent of the day's total turnover respectively.
"Impatience and uncertainty could be the main catalysts behind current zigzag move in the index," said IDLC Investments, a merchant bank in an analysis.
The falling market failed to attract activities, which resided at Tk 3.6 billion level. However, investors maintained their interest on particular stocks and sectors as pharmaceuticals captured 19.2 per cent of total turnover, said the merchant bank.
Meanwhile, after last day's appreciation large-cap stocks encountered sell pressure and stumbled, while micro-cap stocks surfaced in the volatile environment, it added.
"The market opened higher, but started to slip after an hour on sell pressure as investors responded to the fresh political jerk regarding the city corporation elections and decided to book short-term profit," said International Leasing Securities.
Trading remained sluggish and the market turnover dropped by 20.54 per cent as most of the investors kept them to the sideline owing to cautious stance, it added.
LanlaBangla Securities said: "Trading session started with a positive mood, but at the end of the day it ended in the red territory as prices of most of the large-cap stocks declined".
On the economic front, the country's foreign currency reserves crossed $23 billion Tuesday for the second time in a month. The central bank's reserves stood at $23.05 billion Tuesday.
Among the major sectors, engineering fell by 2.3 per cent, while largest steel manufacturer BSRM Steels got corrected by 6.2 per cent following unimpressive corporate declaration.
Food and allied posted a significant loss of 1.42 per cent. Telecommunication and power retracted heavily, losing 1.21 per cent and 1.00 per cent respectively. NBFIs and cement also lost 0.71 per cent and 0.63 per cent.
Only pharmaceuticals and banks ended in green, gaining 0.22 per cent and 0.14 per cent respectively.
The losers took a modest lead over the gainers as out of 304 issues traded, 151 declined, 108 advanced and 45 remained unchanged on the DSE floor.
Activities decreased in the major bourse where trade and volume were down by 16.98 per cent and 14.06 per cent respectively. A total number of 0.088 million trades were executed with trading volume of 75.49 million securities.
The market capitalisation on DSE stood at Tk 3,156.14 billion against Tk 3,172.29 billion in the previous session.
MJL BD was the day's top turnover chart with shares worth Tk 223.17 million changing hands followed by Square Pharma, GP, ACI and Shasha Denims.
AB Bank First Mutual Fund was the day's highest gainer, posting a rise of 9.05 per cent while Jute Spinners was the worst loser, plunging by 9.62 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also returned to the red with its Selective Categories Index - CSCX - lost 28.82 points to close at 8,405.50 points.
Losers beat gainers 134 to 73, with 25 issues remaining unchanged at the port city bourse that traded 6.95 million shares and mutual fund units, turnover value of Tk 261.84 million.
babulfexpress@gmail.com
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