DSEX drops blow 6500-mark again as investors book profit on large-cap stocks

The stock market fell sharply on Wednesday, with the prime index of the major bourse dipping below 6,500-mak again, as the investors booked profit on large-cap stocks.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 50.41 points or 0.77 per cent to settle at 6,487, after gaining 9.28 points in the previous day.

Two other indices also closed lower. The DS30 index, comprising blue chips, plunged 20.27 points to finish at 2,333 and the DSE Shariah Index (DSES) fell 9.42 points to close at 1,417.

Turnover, a crucial indicator of the market, dropped to Tk 13.04 billion on the premier bourse, which was 12 per cent lower than the previous day’s tally of Tk 14.80 billion.

Market insiders said the risk-averse investors sold large-cap stocks in later part of the session which caused the index to drop sharply.

Losers took a strong lead over the gainers, as out of 371 issues traded, 175 closed lower, 72 higher and 124 others remained unchanged on the DSE trading floor.

Orion Pharma became the most-traded stock with shares worth Tk 1.25 billion changing hands, followed by Beximco (Tk 1.18 billion), JMI Hospital Requisite Manufacturing (Tk 548 million), LafargeHolcim (Tk 343 million),  and Malek Spinning Mills (Tk 317 million).

Scam-hit International Leasing & Financial Services was the day’s top gainer, soaring 10 per cent while Fareast Islami Life Insurance was the worst loser, losing 6.19 per cent.

The Chittagong Stock Exchange (CSE) also fell sharply with the CSE All Share Price Index (CASPI) losing 179 points to settle at 19,053 and its Selective Categories Index (CSCX) shedding 108 points to close at 11,420.

Of the issues traded, 147 declined, 43 advanced and 72 issues remained unchanged.

The port-city bourse traded 5.25 million shares and mutual fund units with a turnover value of Tk 214 million.

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