The Financial Express

Stocks witness mild correction after record high

| Updated: October 24, 2017 14:42:55

Stocks witness mild correction after record high

Stocks witnessed a marginal correction on Monday, snapping the record rally as late hours sale pressure wiped out all the early gains.


Brokers said the market finished in the red as optimistic investors showed their buying appetite on sector-wise stocks in the early trading while some investors opted for booking profit in the late hours, taking the market in the red zone.


The Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher in the morning Monday.


Within the first hour of trading, DSEX, the prime index of the DSE, rose more than 30 points, but rest of the session it fell steadily and finally ended more than 16 points lower.


DSEX, the core index of the DSE, settled at 6,151 points, after losing 16.28 points or 0.26 per cent over the previous day.


However, the two other indices maintained their record-breaking rally. The DS30 index, comprising blue chips, advanced 7.35 points or 0.33 per cent to finish at historical high at 2,209 points since its inception in January, 2013.


The DSE Shariah Index (DSES) also rose to record high to close at 1,372 points, gaining 3.45 points or 0.25 per cent.


Turnover, the important indicator of the market, stood at Tk 11.52 billion on the DSE, which was 8.58 per cent lower than the previous day’s turnover of Tk 12.60 billion.


A total number of 0.163 million trades were executed in the day’s trading session with a trading volume of 326.81 million securities.


The total market capitalisation of the DSE came down to Tk 4,113 million from all-time high of Tk 4,122 billion the previous day.


Of the 331 issues traded, 122 closed higher, 170 closed lower and 39 remained unchanged on the DSE trading floor.


LankaBangla Finance topped the turnover chart with about 7.18 million shares of Tk 457 million changing hands, closely followed by Lafarge Surma Cement, Square Pharmaceuticals, CMC Kamal and Premier Bank.


S Alam Cold Rolled Steels was the day’s highest gainer, posting a 9.94 per cent rise, while Meghna Pet was the worst loser, losing by 9.84 per cent.


The port city bourse, the Chittagong Stock Exchange (CSE), also closed marginally lower with its Selective Categories Index - CSCX –losing 24 points to settle at 11,533 points.


Losers beat gainers as 142 issues closed lower, 101 closed higher and 30 remained unchanged on the CSE.


The port city bourse traded 17.90 million shares and mutual fund units worth Tk 711 million.


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