Cautious investors go on selling spree

Dhaka,  Fri,  22 September 2017
Published : 18 May 2017, 21:57:13

Cautious investors go on selling spree

FE Report

The Dhaka bourse witnessed another downbeat session Thursday with falling turnover value as cautious investors continued their selling spree.

Brokers said notable selling pressure was observed on the textile, financial institution, bank and fuel and power stocks that contributed to the fall in indices.

EBL Securities, a stockbroker, said, "The market extended losses as risk-averse investors continued encashment of their portfolio for safeguarding own investment."

It noted that the shaky investors opted to book quick gains on financial institutions, textile, bank and engineering, dragging the key index below 5400-mark.

Accordingly, the non-bank financial institutions witnessed the highest correction of 1.19 per cent, followed by banks 0.74 per cent, fuel and power 0.53 per cent and telecommunication 0.12 per cent.

 AT Capital, an asset management company, said, "Downtrend was stretched for another session, pulling down below 5,400-level since February 2017."

It noted that the broad index charted previous day's pattern. DSEX remained sideways till the mid-session before sliding sharply till the end of the session, shelving down more than 30 points in a single session.

The market started with negative movement reaching down to 5,430 points in the first hour. However, from that point, index showed some volatile movements remaining flat at 5,429-level during the mid-day of the session.

From that point, index consistently moved downwards with minor recoveries, and finally closed red at 5,399.6 points, shedding 30 points or 0.55 per cent, and dipping more than three months low.

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.

The market participation declined slightly from the last session amounting to a total turnover of Tk 6.35 billion, which was 7.16 per cent lower over the previous session.

A total number of 0.112 million trades were executed in the day's trading session with trading volume of 171.41 million securities.

The total market capitalisation of the DSE also came down to Tk 3,675 billion, which was Tk 3,689 billion in the previous session.

Bears bolstered bulls strongly as numbers of losers was more than double than that of gainers. 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 Tk 221 million, Doreen Power Tk 220 million, LankaBangla Finance Tk 174 million and BDCOM Online Tk 129 million.

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.
Editor : A.H.M Moazzem Hossain
Published by the Editor for International Publications Limited from Tropicana Tower (4th floor), 45, Topkhana Road, GPO Box : 2526 Dhaka- 1000 and printed by him from City Publishing House Ltd., 1 RK Mission Road, Dhaka-1000.
Telephone : PABX : 9553550 (Hunting), 9513814, 7172017 and 7172012 Fax : 880-2-9567049
Email :,
Copyright © 2017. All rights reserved
Powered by : orangebdlogo