FE Report
Stocks closed marginally lower for the fourth consecutive sessions Tuesday as late sale pressure wiped-out early gains.
The market opened with a positive note, but could not sustain as the session progressed. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 14.52 points or 0.32 per cent to settle at 4,489.45.
However, the two other indices managed to closed in positive territory. The DS30 index, comprising blue chips, advanced 0.21 points or 0.01 per cent to end at 1,733.21. The DSE Shariah Index (DSES), moved up by 0.24 points or 0.02 per cent to close at 1,099.82.
Turnover, the crucial indicator of the market, crossed Tk 4.34 billion-mark, which was 14 per cent higher against the previous day's Tk 3.80 billion.
The investors' attention was mostly focused on textiles, pharma and power - the sectors that accounted for 16 per cent, 15 per cent and 11 per cent of the day's total turnover.
"Index dipped for the four consecutive trading sessions in the midst of lack of trigger in market," said LankaBangla Securities, a stock broker, in an analysis.
"Market showed weakness in late hour due to profit taking, with investors cashing in on the recent strength of the market," said the stock broker.
International Leasing Securities, a stock broker, said, "The morning buying pressure could not sustain as high profit booking sell-offs at the second-half of the session pushed the prime index to slip in red".
"Price correction in fuel and power, bank and telecom sector mainly contributed in the index fall," the International Leasing said.
IDLC Investments, a merchant bank said, "Though activities gained momentum, market remained sluggish and lost some space, slipping below 4,500 points level".
During these unenthusiastic moves, issues kept changing hands in anticipation of an individual winner said the merchant bank.
All large-cap sectors retraced except cement which went up by 1.77 per cent. Fuel and power witnessed a significant correction with 1.30 per cent decline.
Banks and NBFIs lost 0.84 per cent and 0.69 per cent respectively. Telecommunication and food and allied also went down by 0.64 per cent and 0.47 per cent respectively. Pharmaceuticals ended the session flat.
The losers took a modest lead over the gainers as out of 318 issues traded, 158 declined, 114 advanced and 46 remained unchanged on the DSE trading floor.
Activities increased in the major bourse where volume and trade were up 7.96 per cent and 12.91 per cent respectively. A total number of 0.099 million trades were executed with trading volume of 113.07 million securities.
The total market capitalisation on the DSE stood at Tk 3,171.29 billion against Tk 3,182.90 billion in the previous session.
Lafarge Surma Cement was the day's top turnover leader with shares worth Tk 375 million changing hands following the news of its category change. It was followed by Beximco Pharma, Beximco, GP and Familytex (BD).
Hakkani Pulp and Paper was the day's top gainer, posting a rise of 9.87 per cent while Al-Haj Textile was the worst loser, plunging by 7.60 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also ended in the red with its Selective Categories Index - CSCX - lost 56 points to close at 8,420.49 points.
Losers beat gainers 138 to 68, with 29 issues remaining unchanged at the port city bourse that traded 13.26 million shares and mutual fund units with turnover of Tk 358 million.
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