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DSEX dips below 4,700-mark again

FE Online Report


Published: December 03, 2019 15:20:40 | Updated: December 05, 2019 10:36:59


Stocks extended the losing streak on Tuesday with core index of the major bourse falling below 4,700-mark again, as the investors continued their selling binge.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 37.24 points or 0.78 per cent to settle at 4,697.

Market analysts said risk-averse investors continued their selling spree on large-cap -- Grameenphone and Square Pharmaceuticals, taking the market into the red zone.

Five-large-cap issues –GP, Square Pharma, Brac Bank, Olympic Industries and BATBC, contributed nearly 20 points fall of DSEX.

The market opened on positive note and the key index gained more than 10 points within first 10 minutes of trading, but failed to keep the momentum as the session progressed.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 11.79 points to finish at 1,617 and the DSE Shariah Index shed 7.04 points to close at 1,060.

Turnover, a crucial indicator of the market, also fell and amounted to Tk 4.12 billion, which was 14.52 per cent lower than the previous day’s turnover of Tk 4.82 billion.

Losers took a strong lead over the gainers as out of 349 issues traded, 199 closed lower, 118 ended higher and 32 remained unchanged on the DSE trading floor.

A total number of 125,338 trades were executed in the day’s trading session with trading volume of 160.82 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,537 billion on Tuesday, from Tk 3,558 billion in the previous session.

LafargeHolcim topped the turnover chart with shares worth Tk 162 million changing hands, closely followed by Sonar Bangla Insurance, Stylecraft, Dutch-Bangla Bank and Sinobangla Industries.

Zaheen Spinning was the day’s best performer, posting a gain of 9.78 per cent while Samorita Hospital was the worst loser, losing 7.82 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also kept losing streak with its All Shares Price Index (CASPI)—shedding 107 points to close at 14,305 and the Selective Categories Index - CSCX –falling 64 points to finish at 8,685.

Here too, the losers beat gainers, as 127 issues closed lower, 78 ended higher and 32 remained unchanged on the CSE.

The port city bourse traded 9.52 million shares and mutual fund units worth nearly Tk 222 million in turnover.

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