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DSE, CSE keep losing despite GP surge

FE Online Report | Published: September 19, 2019 15:48:45 | Updated: September 20, 2019 19:41:06


Stocks witnessed yet another bearish session Thursday, with key index of the Dhaka bourse hitting fresh 33-month low, as jittery investors continued to dump their holdings to prevent further loss.

DSEX, the prime index of the DSE, went down by 32.03 points or 0.65 per cent to settle at more than 33-months low at 4,855. On December 06, 2016, the index was 4,846.

Market analysts said investors were selling off shares fearing further decline as they found no immediate solution to the ongoing ailing market in the finance minister’s meeting held on Monday.

The DSE Shariah Index also lost 7.42 points to close at 1,123. However, the DS30 index, comprising blue chips, saw a fractional gain of 0.07 point to finish at 1,735.

Turnover, a crucial indicator of the market, rose to Tk 3.85 billion, which was 4.0 per cent higher than the previous day’s Tk 3.71 billion.

Losers took a strong lead over the gainers as out of 353 issues traded, 269 closed lower, 46 ended higher and 38 remained unchanged on the DSE trading floor.

A total number of 110,807 trades were executed in the day’s trading session with trading volume of 97.32 million shares and mutual fund units.

The market-cap of the DSE stood at Tk 3,689 billion on Thursday, from Tk 3,684 billion in the previous session.

National Tubes topped the turnover chart with shares worth nearly Tk 193 million changing hands, followed by Fortune Shoes, Square Pharma, Monno Jute Stafflers, and Beacon Pharma.

The GP was the day’s best performer, posting a gain of 8.72 per cent riding on the government move while BFIC was the day’s worst loser, plunging by 10 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended lower with its All Shares Price Index (CAPSI) -- CASPI-- losing 87 points to close at 14,760 and the Selective Categories Index - CSCX – shedding 53 points to finish at 8,960.

Here too, losers beat the gainers as 190 issues closed lower, 44 higher and 26 remained unchanged on the CSE.

The port city bourse traded 5.86 million shares and mutual fund units worth nearly Tk 178 million in turnover.

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