FE Report
The market extended losing streak for the fourth running session Tuesday amid volatile trading throughout the session as investors continued to sell stocks amid cautious trading.
The market opened with a positive note, and the key index of the premier bourse climbed 29 points within first 30 minutes of trade, but it soon lost momentum and ended 12.50 points down from previous session.
At the end of the day's session, the prime index of the Dhaka Stock Exchange (DSE) --- DSEX --- ended at 4,671.56 points, shedding 12.50 points or 0.26 per cent from previous session.
The other two indices also closed lower. The DS30 index, comprising blue chips went down by 6.37 points or 0.38 per cent to close at 1,655.71 points. The DSE Shariah Index (DSES) lost 3.77 points or 0.38 per cent to close at 973.53 points.
Market participation improved slightly on DSE and total turnover stood at Tk 3.49 billion, registering 1.4 per cent increase over the previous session's turnover value of Tk 3.44 billion.
"Declining vibe prolonged further for the fourth session as offbeat market sentiment and volatility continued to persist," IDLC Investments, said in its daily market analysis.
The day's session saw stronger profit taking in Micro Cap and Small Cap as prevailing shaky confidence and low participation continued to press on market sentiment, the merchant bank said.
Meanwhile, having a still indecisive set of investors in this cloudy scenario, turnover remained below Tk 3.5 billion level for the second consecutive session.
However, some positive news regarding banks' non-performing loan (NPL) in national dailies assisted this sector to gain 0.72 per cent, the merchant bank added.
"The market showed another volatile trading session rising slightly from the lacklustre market participation," said LankaBangla Securities.
Market volume has been tanking since it crossed the SMA (20) last week, which is a comfort for the investors.
"Investors seem to be waiting for the rally in market till it exhausts all the supply in market before it hit the support level of 4,600 points level," said the stock broker.
The losers took a strong lead over the gainers as out of 284 issues traded, 154 declined, 92 advanced and 38 issues closed unchanged on the DSE floor.
Activities increased in the major bourse (DSE) where volume and trade were up 15.11 per cent and 2.65 per cent respectively. A total number of 0.075 million trades were executed in day's trading session with 71.72 million securities of trading volume.
The market capitalization of the DSE stood at Tk 2,854.95 billion against Tk 2,862.94 billion in the previous session.
Positive movement was observed in banks which gained 0.69 per cent, responding to the news of 4.99 per cent fall in default loan owing to relaxed loan rescheduling rules. Telecommunications also gained 0.67 per cent.
The other major sectors edged down with fuel & power and NBFIs losing 1.07 per cent each. Food & allied and pharmaceuticals lost 1.04 per cent and 0.74 per cent respectively.
Square Pharma dominated the top turnover chart with shares worth Tk 194.84 million changing hands followed by BSCCL, Southeast Bank, Jamuna Oil and Olympic Industries.
Monno Stafflers was the day's highest gainer, posting a rise of 4.95 per cent while Green Delta Insurance was the day's worst losers, slumping by 17.37 per cent.
The Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index - CSCX lost 11.49 points to close at 9,206.24 points.
Losers beat gainers 112 to 66, with 35 issues remaining unchanged at the port city bourse that traded 7.85 million shares and mutual fund units, turnover value of Tk 322.34 million.
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