Stocks slipped into the red Wednesday, a day after positive trend
with significant improvement in turnover, mainly due to weak performance
of heavyweight banking and textile sectors.
The market started with a positive vibe, but it faded out as the session progressed. At the end of the session, the prime index of the Dhaka Stock Exchange (DSEX) went down by 12.11 points or 0.25 per cent to close at 35-session's lowest level of 4,660.52 points.
However, the other two indices managed to close positive. The DS30, comprising blue chips gained 0.52 points or 0.03 per cent to close at 1,681.76 points. The DSE Shariah Index (DSES) went up by 3.45 points or 0.34 per cent to close at 1,015.15 points.
Trading at DSE saw a steep recovery from previous session's two month low turnover value. The total turnover amounted to Tk 4.50 billion, registering 34.11 per cent increase over the previous session's value.
"The stock market witnessed a downbeat session Wednesday mainly due to weak performance of banking sector," commented International Leasing Securities, in its daily market analysis.
"Turnover however, jumped to Tk 4.50 billion. The investors' attention was primarily centered on fuel & power, engineering and pharmaceutical sectors, accounted for 21.46 per cent, 9.93 per cent and 9.83 per cent respectively of total turnover," said the International Leasing Securities.
"Coupled with ongoing volatility and apparent lack of directions, market continued mimicking last several sessions. Resultantly, the bourse ended flat once more time, approaching the same scenario for eighth session," commented IDLC Investments.
However, marginal selling pressure in some Mid Cap scrips, especially Bank which lost 1.75 per cent, pulled down the market at the later part of trading, said the merchant bank.
"Market kicked off with a jolly mood as stocks rallied for most of the trading day, but at the last hour it failed to hold on to its strength and steadily plummeted to negativity. The index was adversely affected mainly due to weak performance of two major sectors, Bank and Textile," observed Zenith Investments.
The market started with a positive vibe, but it faded out as the session progressed. At the end of the session, the prime index of the Dhaka Stock Exchange (DSEX) went down by 12.11 points or 0.25 per cent to close at 35-session's lowest level of 4,660.52 points.
However, the other two indices managed to close positive. The DS30, comprising blue chips gained 0.52 points or 0.03 per cent to close at 1,681.76 points. The DSE Shariah Index (DSES) went up by 3.45 points or 0.34 per cent to close at 1,015.15 points.
Trading at DSE saw a steep recovery from previous session's two month low turnover value. The total turnover amounted to Tk 4.50 billion, registering 34.11 per cent increase over the previous session's value.
"The stock market witnessed a downbeat session Wednesday mainly due to weak performance of banking sector," commented International Leasing Securities, in its daily market analysis.
"Turnover however, jumped to Tk 4.50 billion. The investors' attention was primarily centered on fuel & power, engineering and pharmaceutical sectors, accounted for 21.46 per cent, 9.93 per cent and 9.83 per cent respectively of total turnover," said the International Leasing Securities.
"Coupled with ongoing volatility and apparent lack of directions, market continued mimicking last several sessions. Resultantly, the bourse ended flat once more time, approaching the same scenario for eighth session," commented IDLC Investments.
However, marginal selling pressure in some Mid Cap scrips, especially Bank which lost 1.75 per cent, pulled down the market at the later part of trading, said the merchant bank.
"Market kicked off with a jolly mood as stocks rallied for most of the trading day, but at the last hour it failed to hold on to its strength and steadily plummeted to negativity. The index was adversely affected mainly due to weak performance of two major sectors, Bank and Textile," observed Zenith Investments.
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