Major sectors witness selling pressure

Dhaka,  Sat,  23 September 2017
Published : 12 Apr 2017, 21:39:51

Major sectors witness selling pressure

FE Report

The Dhaka bourse Wednesday witnessed moderate losses in turnover and indices, extending the losing streak for sixth consecutive session following selling pressure observed in major sectors.

The market opened negatively and no strong stance of recovery was observed throughout the rest of the session.

Eventually, the broad index and turnover witnessed moderate losses on Dhaka Stock Exchange (DSE).

The DSE broad index DSEX lost 0.65 per cent or 37.08 points to close at 5646.37.

According to EBL Securities, the market started with a downbeat vibe that continued till the end of the session following selling pressure observed in bank and financial institution sectors throughout the session.

The shariah-based index DSES declined 0.14 per cent or 1.85 points to close at 1298.54, whereas the blue chip index DS30 went down by 0.66 per cent or 14.09 points to close at 2093.59.

"The premier bourse of the country observed another session of correction and edged in flat red zone amid vigilance," said the EBL Securities.

Of the total issues traded, 120 advanced, 170 declined and 37 were unchanged on the premier bourse.

The turnover stood at above Tk 7.14 billion which was 8.66 per cent less than the turnover of the previous session.

Of total turnover, Tk 184 million came from transactions executed in block board.

Among the major sectors which declined, bank lost 1.4 per cent, financial institutions 1.9 per cent, pharmaceuticals & chemicals 0.4 per cent, services & real estate 0.8 per cent and telecommunication 0.2 per cent.

Among the gaining sectors, cement rose 0.4 per cent, engineering 0.2 per cent, miscellaneous 0.3 per cent and textile 0.3 per cent.

Investors' activities were concentrated mainly on textile which captured 22.90 per cent of the market turnover followed by bank 18 per cent, pharmaceuticals & chemicals 11.50 per cent and financial institutions 11.30 per cent.

LankaBangla Finance topped the turnover chart with a value of Tk 317 million, Evince Textiles Tk 284 million, IFIC Bank Tk 219 million, BRAC Bank Tk 209 million and Beximco Pharmaceuticals Tk 193 million.

Rahim Textile Mills was the number one gainer with a rise of 7.57 per cent to close at Tk 309.60, while Eastern Bank Limited topped the loser's chart after declining 11.88 per cent to close at Tk 30.40.
Editor : A.H.M Moazzem Hossain
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