DSE key index dips below 5,400-mark

Dhaka,  Wed,  26 July 2017
Published : 18 May 2017, 18:01:23
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DSE key index dips below 5,400-mark

DSE key index dips below 5,400-mark
FE Online Report
Stocks extended the losing streak on Thursday, with key index of the country’s premier bourse plunging further.

The Dhaka Stock Exchange (DSE) dipped below 5,400-mark as cautious investors went on late hours selling spree in the week’s last session.

Brokers said most of the investors were on selling mood amid concern over amendment of Bank Companies Act 1991 and its impact on the banking sector while some are waiting for the policy changes and economic outlook in the next fiscal year (FY 2017-2018) which is scheduled to be unveiled on June 1.

The market was in a positive territory for a brief period on Thursday, but the rest of the session fell steadily, finally ended 30 points lower.

DSEX, the prime index of the Dhaka bourse, settled at 5,399.66 points, shedding 30 points or 0.55 per cent over the previous session.

The two other indices also closed in the red. The DS30 index, comprising the blue-chips, fell 10.32 points or 0.52 per cent to finish at 1991.79. The DSE Shariah Index (DSES) also lost 3.45 points or 0.27 per cent to close at 1,255.16 points.

Turnover, the important indicator of the market, fell to Tk 6.35 billion, which was 7.16 per cent lower than the previous day’s Tk 6.84 billion.

Losers took a strong lead over the gainers as out of 323 issues traded, 192 declined, 90 advanced and 41 issues remained unchanged on the DSE trading floor.

IFAD Autos dominated the turnover chart with 5.20 million shares worth Tk 717 million changing hands, followed by Paramount Textile, Doreen Power, LankaBangla Finance and Bangladesh Shipping Corporation.

Exim Bank First Mutual Fund was the day’s top gainer, posting a rise of 7.79 per cent while Regent Textile was the worst loser, slumping by 9.61 per cent.

The country’s second bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – losing 68 points to settle at 10,124.

 Losers beat gainers as 151 issues closed lower, 63 closed higher and 24 remained unchanged on the CSE.

The port city bourse traded 12.53 million shares and mutual fund units worth nearly Tk 390 million in turnover.

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