DSEX dips below 6,100-mark on selling pressure

FE Online Report | Published: October 12, 2017 16:25:36 | Updated: November 12, 2017 14:58:49


Stocks extended the losing streak for the second day in a row on Thursday, with key index of the major bourse dipping below 6,100-mark again, as cautious investors continued on selling binge.

Dealers said the market extended the losses as investors continued their selling spree, especially on banking shares, following the central bank’s recent action on seven banks on violating the securities rules on investment.

Following the previous day’s decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid low participation of investors.

After witnessing volatile trading throughout the session, DSEX, the prime index of the DSE, which replaced the DGEN in four-and-a-half-year back, finished the week at 6,064 points, losing 44.16 points or 0.72 per cent over the previous session.

It was the lowest level of DSEX more than one month since September 4.

The two other indices also followed the suit. The DS30 index, comprising blue chips and the DSE Shariah Index (DSES) closed at 2,191 points and 1334 points, shedding 10.98 and 6.86 points respectively.

The trading activities also fell sharply by 32 per cent to Tk 7.43 billion over the previous day’s turnover Tk 10.92 billion.

A total number of 0.122 million trades were executed in the day’s trading session with trading volume of 209.12 million securities.

The total market capitalisation of the DSE stood at Tk 4,076 billion which was Tk 4,096 billion in the previous trading session.

Losers took a strong lead over the gainers as out of 331 issues traded, 197 closed lower, 97 higher and 37 remained unchanged on the DSE trading floor.

Brac Bank topped the day’s turnover chart with 3.84 million shares of Tk 380 million changing hands, closely followed by IFAD Autos, Shahjalal Islami Bank, Exim Bank and Aamra Networks.

Apex Spinning & Knitting Mills was the day’s best performer, posting a gain of 9.94 per cent while Modern Dyeing was the day’s worst loser, plunging by 16.55 per cent following its poor dividend declaration.

The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index - CSCX – losing 117 points to close at 11,378.

Losers beat gainers as 161 issues closed lower, 54 closed higher and 19 remained unchanged on the CSE.

The port city bourse traded 13.61 million shares and mutual fund units worth Tk 352 million in turnover.

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