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Stocks end lower amid low confidence

FE Online Report | Published: September 17, 2019 15:42:21 | Updated: September 18, 2019 15:47:07


Stocks ended lower on Tuesday, a day after the finance minister holding a marathon meeting with the capital market stakeholders to revive the investors’ confidence.

Finance Minister AHM Mustafa Kamal said after the meeting the government would continue to support the capital market and decided to speed up the process of listing of state-owned enterprises to help revive the country’s ailing capital market.

DSEX, prime index of Dhaka Stock Exchange (DSE), went down by 30.74 points or 0.62 per cent to settle at 4928.

Market analysts said lack of investors’ confidence, telecom regulator’s strict stance towards GP coupled banking scam news continued to hunt investors’ sentiment.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 3.93 points to finish at 1,751 and the DSE Shariah Index dropped 8.64 points to close at Tk 1,146.

Turnover, a crucial indicator of the market, however, rose to Tk 4.35 billion, which was 12 per cent higher than the previous day’s Tk 3.89 billion.

Losers took a strong lead over the gainers as out of 353 issues traded, 236 closed lower, 71 ended higher and 46 remained unchanged on the DSE trading floor.

A total number of 129,167 trades were executed in the day’s trading session with trading volume of 104.37 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,710 billion on Tuesday, from Tk 3,714 billion in the previous session.

National Tubes topped the turnover chart with shares worth Tk 280 million changing hands, followed by Monno Jute Stafflers, Legacy Footwear, BATBC and Square Pharmaceuticals.

National Tubes was the day’s best performer, posting a gain of 8.32 per cent while Monno Ceramic Industries was the day’s worst loser, plunging by 9.99 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended lower with its All Shares Price Index (CAPSI) -- CASPI-- losing 112 points to close at 14,950 and the Selective Categories Index - CSCX – shedding 69 points to finish at 9,076.

Here too, losers beat the gainers as 166 issues closed lower, 57 higher and 26 remained unchanged on the CSE.

The port city bourse traded 4.65 million shares and mutual fund units worth nearly Tk 394 million in turnover.

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