Stocks returned to the red on Sunday, with key index of the Dhaka Stock Exchange (DSE) falling below 6,000-mark once again, as risk-averse investors went on selling spree.
Market insiders said earnings and corporate declarations from a good number of listed companies failed to satisfy investors’ expectations that resulted into selling frenzy.
Some 47 more listed companies recommended dividend for the year ended on June 30, 2017, according to separate disclosures posted on the DSE website on Sunday.
Notable selling pressure was observed in the shares of DS30 index and the DSE Shariah Index (DSES).
The market started with a positive note and the key index of the DSE rose around 19 points within first hour of trading, but the rest of the session fell steadily and finally ended nearly 23 points lower.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,995, losing 22.84 points or 0.37 per cent over the previous session.
The two other indices -- the DS30 index and the DSE Shariah Index (DSES) – also fell sharply. The DS30 index, comprising blue chips fell 17.24 points or 0.79 per cent to close at 2,156.
The DSE Shariah Index (DSES) lost 10.52 points or 0.80 per cent to finish at 1,306.
Bearish sentiment also reflected on the turnover activities as the total turnover came down to Tk 6.41 billion, which was 3.32 per cent lower than the previous day’s turnover of Tk 6.63 billion.
A total number of 0.128 million trades were executed in the day’s trading session with trading volume of 176.59 million securities.
The total market capitalisation of the DSE stood at Tk 4,076 billion which was Tk 4,100 billion in the previous trading session.
The losers took a strong lead over the gainers as out of 332 issues traded, 226 closed lower, 82 closed higher and 24 remained unchanged on the DSE floor.
Saif Powertec emerged as turnover leader with about 6.18 million shares of Tk 282 million changing hands, closely followed by Brac Bank, City Bank, LankaBangla Finance and BBS Cables.
Premier Bank was the day’s highest gainer, posting a 6.25 per cent rise, while Hakkani Pulp & Paper was the worst loser, plunging by 25.48 per cent following its no dividend declaration.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index - CSCX – losing 31 points to settle at 11,218.
Losers beat gainers as 158 issues closed lower, 66 closed higher and 20 remained unchanged on the CSE.
The port city bourse traded 18.69 million shares and mutual fund units’ worth Tk 730 million in turnover.