FE Report
After hefty gains in the last two sessions, stock market saw the steepest fall in the last three months Thursday as potential turmoil in the political front created panic among participants.
The prime index of the Dhaka Stock Exchange - DSEX dipped below 3,800 points mark once again, losing 84.59 points or 2.18 per cent and closing the session at 3,799.27 points.
Negative vibe continued from the beginning when DSEX shed 59.0 points within the first five minutes of trade which turned into panic sale rest of the session.
The DS30 Index, comprising blue chips also went down by 32.20 points or 2.31 per cent to close at 1,361.04 points.
Turnover remained dry with further 22.31 per cent decline over previous day's turnover value. The day's total market turnover stood Tk 2.30 billion) with 30 per cent of the total value coming from the textile sector.
"Opposite stance taken by political parties throughout the country inked in investors' psychology from the very beginning of the day's session," IDLC Investments, said in its regular market analysis.
Anticipation of potential turmoil created fear amid participants, which turned into panic sale and derailed market outlook, said the merchant bank.
Meanwhile, shaky investor's confidence fueled in declining activity by 22.31 per cent from earlier session. This dragged down market turnover again below Tk 2.50 billion mark after single session, the merchant bank added.
The losers took a strong lead over the gainers as out of 283 issues traded, 225 declined, 34 advanced and 24 remained unchanged in the prime bourse.
None of the sectors gained. Among the large sectors, telecommunications was the biggest loser with 3.06 per cent loss - followed by banks 1.86 per cent and fuel & power 1.71 per cent. Pharmaceuticals and NBFIs lost 1.64 per cent and 1.30 per cent respectively.
Activities decreased on the prime bourse. A total of 0.067 million trades were executed with 67.70 million shares and mutual fund units were trading volume.
The market capitalization of the DSE stood at Tk 2,433.68 billion against Tk 2,473.73 billion in the previous session.
Generation Next Fashion became the top turnover leader with shares worth Tk 195.07 million changing hands followed by three other textile companies - Argon Denims (+3.5%), Envoy Textiles (-0.7%) and Malek Spinning (+3.3%).
Reckitt Benckiser topped the gainer chart with 6.3 per cent gain while Desh Garment was the day's worst losers, slumping by 9.93 per cent.
The Chittagong Stock Exchange (CSE) also witnessed sharp decline, with its Selective Categories Index lost 155.57 points to close at 7,442.32 points.
Losers beat gainers 171 to 15, with 9 issues remaining unchanged at the port city bourse that traded 6.03 million shares and mutual fund units, turnover value worth Tk 180.66 million.
After hefty gains in the last two sessions, stock market saw the steepest fall in the last three months Thursday as potential turmoil in the political front created panic among participants.
The prime index of the Dhaka Stock Exchange - DSEX dipped below 3,800 points mark once again, losing 84.59 points or 2.18 per cent and closing the session at 3,799.27 points.
Negative vibe continued from the beginning when DSEX shed 59.0 points within the first five minutes of trade which turned into panic sale rest of the session.
The DS30 Index, comprising blue chips also went down by 32.20 points or 2.31 per cent to close at 1,361.04 points.
Turnover remained dry with further 22.31 per cent decline over previous day's turnover value. The day's total market turnover stood Tk 2.30 billion) with 30 per cent of the total value coming from the textile sector.
"Opposite stance taken by political parties throughout the country inked in investors' psychology from the very beginning of the day's session," IDLC Investments, said in its regular market analysis.
Anticipation of potential turmoil created fear amid participants, which turned into panic sale and derailed market outlook, said the merchant bank.
Meanwhile, shaky investor's confidence fueled in declining activity by 22.31 per cent from earlier session. This dragged down market turnover again below Tk 2.50 billion mark after single session, the merchant bank added.
The losers took a strong lead over the gainers as out of 283 issues traded, 225 declined, 34 advanced and 24 remained unchanged in the prime bourse.
None of the sectors gained. Among the large sectors, telecommunications was the biggest loser with 3.06 per cent loss - followed by banks 1.86 per cent and fuel & power 1.71 per cent. Pharmaceuticals and NBFIs lost 1.64 per cent and 1.30 per cent respectively.
Activities decreased on the prime bourse. A total of 0.067 million trades were executed with 67.70 million shares and mutual fund units were trading volume.
The market capitalization of the DSE stood at Tk 2,433.68 billion against Tk 2,473.73 billion in the previous session.
Generation Next Fashion became the top turnover leader with shares worth Tk 195.07 million changing hands followed by three other textile companies - Argon Denims (+3.5%), Envoy Textiles (-0.7%) and Malek Spinning (+3.3%).
Reckitt Benckiser topped the gainer chart with 6.3 per cent gain while Desh Garment was the day's worst losers, slumping by 9.93 per cent.
The Chittagong Stock Exchange (CSE) also witnessed sharp decline, with its Selective Categories Index lost 155.57 points to close at 7,442.32 points.
Losers beat gainers 171 to 15, with 9 issues remaining unchanged at the port city bourse that traded 6.03 million shares and mutual fund units, turnover value worth Tk 180.66 million.
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