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Stocks keep losing Sunday amid low confidence

FE Online Report | Published: July 14, 2019 16:33:03 | Updated: July 15, 2019 11:52:43


Stocks witnessed yet another bearish session on Sunday as worried investors continued their selling spree on major sectors’ shares.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 42.80 points or 0.81 per cent to finish at 5,179, lowest in the two-and-a-half months low.

Market analysts said the government’s move to liquidate People’s Leasing and Financial Services (PLFS), the telecom regulator’s strict stance towards Grameenphone coupled with the gas price hike continued to prompt investors to sell-offs.

The DS30 index, comprising blue chips, also lost 4.42 points to finish at 1,853. The DSE Shariah Index also shed 3.85 points to close at 1,190.

Turnover, another important indicator of the market, stood at Tk 3.54 billion, which was 0.85 per cent higher than the previous day’s turnover of Tk 3.51 billion.

The losers took a strong lead over the gainers as out of 352 issues traded, 269 closed lower, 63 advanced and 20 issues remained unchanged on the DSE trading floor.

United Power topped the turnover chart with 423,339 shares worth Tk 160 million changing hands.

The other turnover leaders were Fortune Shoes, ML Dyeing, Dhaka Insurance and National Life Insurance Company.

A total number of 101,895 trades were executed in the day’s trading session with trading volume of 126.93 million securities.

The market capitalisation of the DSE also fell to Tk 3,858 billion on Sunday, from Tk 3,866 billion in the previous session.

SEML FBLSL Growth Fund was the day’s best performer, posting a gain of 9.65 per cent while CAPM BDBL Mutual Fund 01 was the worst loser, losing 10 per cent.

The port city bourse, Chittagong Stock Exchange, also ended lower with its CSE All Share Price Index – CASPI –falling 91 points to settle at 15,881 and the Selective Categories Index - CSCX –losing 52 points to finish at 9,645.

Here too, the losers beat gainers, as 194 issues closed lower, 60 ended higher and 16 remained unchanged on the CSE trading floor.

The port city bourse traded 6.05 million shares and mutual fund units worth Tk 117 million in turnover.

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