Dhaka bourse closes flat in red zone

Dhaka,  Thu,  24 August 2017
Published : 12 Jun 2017, 21:57:02

Dhaka bourse closes flat in red zone

Losing streak continues for fourth consecutive session
FE Report

Dhaka bourse on Monday closed flat in the red zone extending the losing streak for the fourth consecutive session as the major sectors showed mixed performance.

Due to the investors' less participation, a moderate loss was observed in turnover of the Dhaka Stock Exchange (DSE) that featured a value Tk 4.0 billion after eight sessions.

The market kicked off with the day's session beginning positively, but shortly afterwards the DSE broad index DSEX witnessed a sharp fall that continued for more than 20 minutes.

After observing a recovery stance, the broad index later witnessed volatility and eventually closed the session with a marginal loss in indices.

At the end of the session, the DSEX closed at 5450.11 points with a loss of 0.09 per cent or 5.05 points.

The shariah-based index DSES declined 0.15 per cent or 1.92 points to close at 1262.05 points while the blue-chip index DS30 went down by 0.37 per cent or 7.56 points to close at 2024.71 points.

According to International Leasing Securities, Dhaka stocks observed another downbeat session amid choppy trading on the eventful day.

"The market started with negative tune as the shaky investors continued their profit-booking tendency in anticipation of further fall while some adopted 'wait-and-see' approach amid ongoing market trend," said the company.

Of the total number of issues traded, 103 advanced, 157 declined and 67 remained unchanged on the premier bourse.

The turnover stood at above Tk 3.70 billion which was 21 per cent less compared to that of the previous session.

"Many investors moved to uplift the index in the middle of the session, but failed as the heavy sell pressure in food, cement and financial institution sectors pushed down the market in later part of the session," said International Leasing Securities.

Among the major sectors that advanced, bank rose 0.2 per cent, fuel & power 0.1 per cent, engineering 0.2 per cent, service & real estate 0.3 per cent and travel & leisure 0.5 per cent.

Among the declining sectors, financial institutions lost 0.5 per cent, general insurance 0.4 per cent, life insurance 0.4 per cent, pharmaceuticals & chemicals 0.2 per cent, tannery 0.1 per cent and textile 0.2 per cent.

Investors' attention was concentrated mostly on textile sector that contributed 19.20 per cent in market turnover, followed by bank 16.10 per cent, pharmaceuticals & chemicals 14.70 per cent, fuel & power 12.40 per cent and engineering 10.40 per cent.

Paramount Textile topped the turnover chart with a value of Tk 145 million, followed by IFAD Autos Tk 117 million, LankaBangla Finance Tk 107 million, United Power Generation and Distribution Company Tk 99 million and Beximco Pharmaceuticals Tk 98 million.

Rupali Bank was the number one gainer with a rise of 4.66 per cent to close at Tk 26.90 each while Savar Refractories was the worst loser after declining 9.24 per cent to close at Tk 49.10 each.

Meanwhile, the benchmark index CASPI at the Chittagong Stock Exchange (CSE) closed at 16873 points with a loss of 42 points.

Of the 224 issues traded, 68 advanced, 108 declined and 48 stayed unchanged with the turnover standing at above Tk 402.51 million on the port city bourse.

Editor : A.H.M Moazzem Hossain
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