FE Report
Stocks returned to the red Wednesday after two sessions upturn as most of the investors booked short-term profit on large cap stocks ahead of Eid vacation.
Today (Thursday) will be the last working day ahead of the ensuing Eid-ul-Fitr on Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) as the bourses go for a prolonged nine-day Eid vacation including weekly holidays from tomorrow (Friday).
The market opened with positive note, but could not sustain. Eventually, DSEX, the prime index of the DSE ended at 4,388.68 points, shedding 35.92 points or 0.81 per cent.
The other two indices also ended in red. The DS30, comprising blue chips lost 16.02 points or 0.99 per cent to close at 1,602.04 points. The DSES lost 6.57 points or 0.66 per cent to close at 993.24 points.
Turnover at DSE remained dry. The total turnover stood at Tk 3.18 billion, registering a decline of 15.2 per cent over the previous session's value of Tk 3.75 billion.
"Most of the investors exhibited profit-booking attitude and abstained from making any new investments before the Eid vacation in order to avoid any accrued investments during this period," commented International Leasing Securities.
"The investors showed mixed reaction and mostly dumped Beximco shares ahead of its earnings report," it said.
Profit booking tendency kept Beximco at the worst position of top ten losers' list which lost 8.18 per cent and subsequently, emerged miscellaneous sector lost was the worst sectoral performer with 4.39 per cent loss, said IDLC Investments.
LankaBangla Securities, said: "Market held back its momentum Wednesday as investors' behavior was astounding towards the market".
The second quarter earnings performance of listed corporate entities was good. But market could not react according to the earnings performance due to selling pressure of stocks, said the stock broker.
Among the large cap sectors, only telecommunication closed in green with 1.25 per cent gain. NBFIs posted the highest loss -- 2.10 per cent.
Pharmaceuticals and fuel and power closed 0.92 per cent and 1.03 per cent lower respectively. Food and allied and bank edged down by 0.58 per cent and 0.21 per cent respectively.
The losers took a lead over the gainers as out of 297 issues traded, 160 declined, 90 advanced and 47 remained unchanged on the DSE floor.
Beximco Limited was the most traded stock for the ninth sessions with shares worth Tk 600.67 million changing hands followed by GP, Lafarge Surma Cement, Square Pharma and Shahjibazar Power.
The top five issues in turnover chart captured 38.74 per cent of day's total turnover with Beximco contributing 18.8 per cent alone.
ICB First NRB Mutual Fund was the day's highest gainer, posting a rise of 8.85 per cent while Beximco was the day's worst loser, slumping by 8.17 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also ended lower with its Selective Categories Index - CSCX - lost 67.74 points to close at 8,321.07 points.
Losers beat gainers 118 to 49, with 37 issues remaining unchanged at the port city bourse that traded 15.82 million shares and mutual fund units with turnover value of Tk 347.87 million.
Blogger Comment
Facebook Comment