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DSEX sinks below 4,700-mark again

FE Online Report | Published: November 24, 2019 16:10:02 | Updated: November 24, 2019 20:47:09


Stocks ended lower on Sunday, after a single-day break, as risk-averse investors went on selling binge on large-cap shares, particularly Grameenphone (GP).

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 18.23 points or 0.38 per cent to settle at 4,688.

Market analysts said the investors’ confidence got a battering, which triggered sell-off again on selective large-cap shares, especially GP shares.

The GP led the market fall as the largest market-cap company’s share fell 5.31 per cent, contributing more than 36 points fall of DSEX alone, said a leading broker.

The market opened on positive note and the key index gained more than 16 points within first 30 minutes of trading. But rest of the session went down steadily.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 12.46 points to finish at 1,638 and the DSE Shariah Index shed 5.94 points to close at 1,075.

Turnover, a crucial indicator of the market, also fell and amounted to Tk 3.77 billion, which was 10.45 per cent lower than the previous day’s turnover of Tk 4.21 billion.

Losers took a modest lead over the gainers as out of 338 issues traded, 167 closed lower, 138 ended higher and 33 remained unchanged on the DSE trading floor.

A total number of 124,443 trades were executed in the day’s trading session with trading volume of 134.37 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,544 billion on Sunday, from Tk 3,570 billion in the previous session.

Beacon Pharma topped the turnover chart with shares worth Tk 112 million changing hands, followed by National Tubes, Sonar Bangla Insurance, GP and VFS Thread Dyeing.

National Feed Mills was the day’s best performer, posting a gain of 10 per cent while Safko Spinning was the worst loser, losing 23 per cent following its ‘no’ dividend declaration news.

The port city’s bourse, the Chittagong Stock Exchange, also ended lower with its All Shares Price Index (CASPI)—losing 19 points to close at 14,252 and the Selective Categories Index - CSCX –falling 13 points to finish at 8,662.

The gainers beat losers as 111 issues closed higher, 102 ended lower and 35 remained unchanged on the CSE.

The port city bourse traded 6.07 million shares and mutual fund units worth nearly Tk 137 million in turnover.

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