DSE, CSE retreat on selling pressure

FE Online Report | Published: December 06, 2018 15:52:19 | Updated: December 09, 2018 10:32:13


Stocks slipped into the red on Thursday, snapping a four-day gaining streak, as cautious investors booked some profit on sector-wise issues.

Market operators said investors were on selling mood throughout the day amid rising non-performing loan in the banking sector coupled with falling foreign portfolio investment in the Dhaka bourse.

The market was in a positive trend at opening and rest of the session fell steadily amid selling pressure.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,332, losing 28.30 points or 0.52 per cent after adding 80 points in the four straight sessions.

The DS30 index, comprising blue chips, also fell 9.95 points to finish at 1,862. The DSE Shariah Index shed 7.06 points to close at 1,224.

Turnover, another important indicator of the market, also fell to Tk 5.14 billion, which was 24 per cent lower than the previous day’s turnover of Tk 6.79 billion.

A total number of 137,535 trades were executed in the day’s trading session with trading volume of 150.58 million securities.

The market capitalisation of the DSE also fell to Tk 3,836 billion on the day which was Tk 3,841 billion in the previous day.

The losers took a strong lead over the gainers as out of 343 issues traded, 202 declined, 112 advanced and 29 issues remained unchanged on the DSE trading floor.

Dragon Sweater topped the DSE turnover chart with 7.58 million shares worth Tk 196 million changing hands.

The other turnover leaders were Saiham Cotton Mills, ML Dyeing, United Power and Intech.

Prime Islami Life Insurance was the day’s best performer, posting a gain of 9.97 per cent while Delta Spinners was the worst loser, losing 6.94 per cent.

The port city bourse CSE ended lower with its CSE All Share Price Index – CASPI –losing 102 points to settle at 16,326 and the Selective Categories Index - CSCX –shedding 67 points to finish at 9,878.

The losers beat gainers as 153 issues closed lower, 74 ended higher and 18 remained unchanged on the CSE.

The port city bourse traded 9.35 million shares and mutual fund units worth more than Tk 221 million in turnover.

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