DSE fails to come out of red zone for sixth consecutive session
Monday’s session opens with a positive note that continued only for four minutes
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The Dhaka bourse on Monday failed to come out of the red zone that prolonged for sixth consecutive session amid investors’ lack of confidence.
On the day, the broad index witnessed another sharp fall following the price correction witnessed by almost all sectors of listed securities.
The turnover also remained almost same as like previous session as many investors remained reluctant to inject fresh funds following the ongoing miserable outlook of the market.
The Dhaka Stock Exchange (DSE) opened the Monday’s session with a positive note that continued only for four minutes.
Later, the DSE broad index DSEX displayed a straight fall and soon afterwards a recovery stance was observed that dragged the index for a while.
Another recovery stance was observed during mid-session but the DSEX failed escape the loss.
Finally, the DSEX lost 1.06 per cent or 50.57 points and settled at 4711.30 points, another lowest level of last three years.
The shariah based index DSES declined 1.62 per cent or 17.81 points to close at 1081.79 points.
The DS30 index comprising blue chip securities went down 1.14 per cent or 19.27 points to close at 1669.89 points.
Of 352 issues traded, 80 advanced, 231 declined and 41 were unchanged on the DSE.
According to International Leasing Securities, investors exerted selling pressure almost from the beginning of the session, though some enthusiastic efforts were observed during mid-session.
“But the weak recovery stances failed to sustain because of the strong presence of the risk-averse investors. Notable selling of shares was observed on all of the sectors especially in large cap sectors that contributed to the big fall in indices,” said the International Leasing Securities.
On Monday, the DSE featured a turnover of above Tk 2.99 billion, which was 2.98 billion in previous session.
Of the sectors which witnessed price correction, bank declined 0.1 per cent, engineering 1.4 per cent, fuel & power 1.3 per cent, pharmaceuticals & chemicals 0.9 per cent, telecommunication 2.7 per cent and textile 1.4 per cent.
General insurance sector was the only one sector which witnessed price appreciation and advanced 0.6 per cent.
Investors’ focus was concentrated mostly on pharmaceuticals & chemicals sector which grabbed 20.9 per cent of the market turnover followed by engineering 16.90 per cent, textile 8.70 per cent and bank 8.20 per cent.
National Tubes was on the top of most traded stocks with a turnover of Tk 171 million followed by Square Pharmaceuticals Tk 115 million, Wata Chemicals Tk 107 million, Bangladesh Shipping Corporation Tk 78 million and Summit Power Tk 76 million.
M. L. Dyeing was the number one gainer with a rise of 6.14 per cent to close at Tk 32.80 each.
Evince Textile was the worst loser after declining 14.78 per cent to close at Tk 9.80 each.
On the Chittagong Stock Exchange (CSE), the benchmark index CASPI shed 0.73 per cent or 106.03 points to close at 14404.17 points.
Out of 235 issues traded, 59 advanced, 145 declined and 31 were unchanged. And the turnover stood at above Tk 132.06 million on the port city bourse CSE.