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The Financial Express

Stocks back in red after single-day break

DSE daily turnover slumps 15pc 


| Updated: November 11, 2020 13:31:27


Lankabangla and Fianancial Express Lankabangla and Fianancial Express
Stocks back in red after single-day break

Stocks slipped back into the red on Sunday, after a single-day break as risk-averse investors went on late hours selling binge on sector-wise issues.

DSEX, the key index of the Dhaka Stock Exchange, went down by 18.46 points or 0.37 per cent to settle at 4,923, after gaining more than 22 points in the previous session.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 6.83 points to finish at 1,718 and the DSE Shariah Index fell 3.73 points to close at 1,116.

Market operators said the retail investors booked profits on selective stocks while institutional investors remained analysing the latest corporate disclosures.

The cautious investors opted to liquidate their investment as many of them opted to cash out gains from the recent price surge, said a merchant banker.

However, a section of investors remained active on stocks that declared satisfactory dividend and quarterly earnings, he added.

Bangladesh’s exports plummeted in October which might dampen investors’ confidence on the business potential in the days ahead as they fear another demand shock due to the second wave of Covid-19 in major export destinations of the country, said a leading broker.

Turnover, a crucial indicator of the market, fell to Tk 7.86 billion, which was 15 per cent lower than the previous day’s turnover of Tk 9.28 billion.

Losers took a modest lead over the gainers as out of 356 issues traded, 164 ended lower, 110 closed higher while 82 issues remained unchanged on the DSE trading floor.

A total number of 161,992 trades were executed in the day’s trading session with a trading volume of 307.61 million shares and mutual fund units.

The market capitalisation of DSE, however, rose to Tk 3,997 billion on Sunday, from Tk 3,980 billion in the previous session.

Beximco Pharma continued to dominate the turnover chart with 4.66 million shares worth Tk 630 million changing hands, followed by Beximco, Northern Insurance, Associated Oxygen and Walton Hi-Tech Industries.

Associated Oxygen was the best performer for the second straight sessions, posting a gain of 9.96 per cent while Global Insurance was the worst loser, losing 8.59 per cent.

The Chittagong Stock Exchange also backed into the red with its All Shares Price Index (CASPI)—losing 46 points to close at 14,141 while the Selective Categories Index – CSCX shedding 27 points to close at 8,509.

Of the issues traded, 116 declined, 87 advanced and 15 remained unchanged on the CSE.

The port city bourse traded 14.15 million shares and mutual fund units with turnover value of Tk 424 million.

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