DSE, CSE indices drop for 3rd consecutive day

Key share price indices dropped for the 3rd consecutive day on Wednesday, the third trading day of the week at Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).

The DSE key index, DSEX lost 6.11 points or 0.13 per cent to close at 4587.38 on the day. Of the 314 issues traded, 144 gained, 126 declined and 53 remained unchanged. Shares worth Tk 3814.1 million changed hands at the DSE on Wednesday as against Tk 3980.8 million was exchanged on Tuesday.

Observing the day’s money market, LankaBangla Securities said “Benchmark index at DSE was little changed today with continual fall in market turnover value for the fourth consecutive session.” “Market selling looks like it is getting exhausted for the moment as large numbers of the previous sellers seems to capitulate and sell even at bargain levels”, the leading stockbroker added.

Another stockbroker, IDLC Finance said, “Market passed a volatile session with DSEX crossing 4600 points psychological level several times during the early hours of trade. However, fall of Large Caps (-0.3 per cvent) like Grameenphone(-0.9 per cent), Titas Gas (-1.8 per cent) and Brac Bank (-1.7 per cent) continued to exert downward pressure on the market, dragging the index down.”

Asian Tiger Sandhani Life Growth Fund topped the loser’s list at Dhaka bourse while other companies were Alltex Industries, Agrani Insurance, Far East Knitting & Dyeing Industries, United Insurance, First Bangladesh Fixed Income Fund, GQ Ball Pen, Aman Feed, Rupali Bank and Bangladesh Shipping Corporation.

The top five turnover leaders at the DSE were Aftab Automobiles, Beximco Pharma, Square Pharmaceuticals, Quasem Drycells and Delta Life Insurance. Top five gainers at the DSE were Apex Tannery, Dacca Dyeing & Manufacturing, Apex Spinning & Knitting, Exim Bank 1st Mutual Fund and Miracle Industries.

The key index at the Chittagong Stock Exchange (CSE), CASPI lost 25.56 points to reach 13999.19 at close on Wednesday. Of the 255 issues traded, 97 advanced, 117 suffered loss and 41 remained unchanged. The value of the traded issues at the port city bourse was Tk 271.8 million on the day, according to UNB. 

–Mithun/Abdullah

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