The Financial Express

DSE slips into red, snapping five-day winning streak

| Updated: July 16, 2020 09:53:50

Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks on Dhaka bourse slipped into the red on Monday, snapping a five-day winning streak, as risk-averse investors opted for quick-profit on selective issues amid ongoing Covid-19 pandemic.

Following the previous five days’ upward movement, stocks on both the bourses opened on a positive note today and the key index of the prime bourse crossed the 4,100-mark in early session. But late hours profit booking sale pressure wiped out early gains.

At the end of the session, DSEX, the key index of the Dhaka Stock Exchange, went down by 9.90 points or 0.24 per cent to settle at 4,089 during the four hours trading.

Market analysts said cautious investors booked quick-profit on sector specific issues, which saw substantial gain in the past five trading sessions, taking the market in downward trend.

The prime bourse witnessed a natural correction, as some investors intended to realise the profit generated from the previous five days’ gain, said a leading broker.

He noted that a section of investors remained active on the market riding on optimism owing to gradual reopening of the economy and revival of some specific sectors’ activity.

Meanwhile, two other DSE indices also edged lower. The DS30 index, comprising blue chips, lost 7.63 points to finish at 1,376 and the DSE Shariah Index fell 4.02 points to close at 950.

Turnover, another important indicator of the market, stood at Tk 3.78 billion on the country’s prime bourse, which was 9.0 per cent higher than the previous day’s turnover of Tk 3.47 billion.

Most of the shares remained stuck at the trading. Of the issues traded, 164 remained unchanged while 57 issues advanced and 127 declined on the DSE floor.

As many as 83,302 trades were executed in the day’s trading session with a trading volume of 119.29 million shares and mutual fund units.

The market-cap on the premier bourse also fell to Tk 3,163 billion on Monday, from Tk 3,178 billion in the previous session.

Square Pharma topped the turnover chart with shares worth Tk 204 million changing hands, followed by Khulna Power, Beximco Pharma, Orion Pharma and LafargeHolcim.

Paramount Insurance was the day’s best performer again, posting a gain of 9.92 per cent while Aramit Cement was the worst loser, dropping 6.92 per cent.

However, the Chittagong Stock Exchange edged up with its All Shares Price Index (CASPI) advancing 5.84 points to close at 11,606 and the Selective Categories Index (CSCX) gaining 4.18 points to finish at 7,033.

Of the issues traded, 43 gained, 66 declined and 92 remained unchanged on the CSE.

The port city bourse traded 6.86 million shares and mutual fund units with turnover value of Tk 132 million.

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