Welcome to Business Outlook
Related Articles
Turnover declined by 25% to Tk 729 crore during the session at the DSE, which had been Tk977 crore in the previous session
Stocks at the DSE plunged on Tuesday, extending the losing streak to the fourth consecutive session, with the key index of the major bourse dipping below the 5,000 mark as investors continued booking profits.
DSEX, the key index of the Dhaka Stock Exchange (DSE), went down by 42 points or 0.83% to settle at 4,970.10. The index crossed the 5,000 mark on September 10 and stood at 5011 points after almost one year amid growing general investors’ confidence over regulatory moves to revive the sinking market.
Turnover declined by 25% to Tk 729 crore during the session at the DSE, which had been Tk977 crore in the previous session.
Among traded issues, 75 gained, 252 declined and 29 remained unchanged during the session at the Dhaka bourse.
Market insiders said cautious investors continued to book profits in major sectors, which saw substantial gains in the past few weeks.
They also said the key index started falling from the beginning of Tuesday’s session and descended sharply as time progressed, with investors increasing share sales to book profits.
Meanwhile, the Chittagong Stock Exchange (CSE) also fell at the end of the session.
UCB Capital Limited in its daily market commentary notes that general insurance experienced price appreciation while IT, Service and Real Estate and NBFI faced the highest price correction. Walton Hi-Tech Industries, a popular name in the consumer electronic industry, is set to debut on the capital market tomorrow.
On Tuesday, a group of investors also went for selling shares to take positions in the upcoming IPO.
The insurance sector contributed 24.8% of the total turnover while the pharmaceuticals, engineering and NBFI sectors contributed 14.2%, 8.9% and 8.3% respectively, according to stockbangladesh.com.
Beximco Pharmaceuticals secured the leadership position on the top turnover chart with a turnover of Tk30.5 crore, with its share price closing at Tk116.6 per share.
Nitol Insurance secured the highest gain of 9.9% during the session. The stock was followed by Global Insurance Company with 7.6%, Paramount Insurance with 7.4%, Salvo Chemical Industry with 7.2% and Federal Insurance Company with a 6.8% rise.
Bangladesh Welding Electrodes turned out the worst loser with its price declining by 9.5%. The stock was followed by Golden Son with 8.4%, C & A Textiles Ltd with 7.3%, Familytex with 6.8% and Zahintex Industries with 6.4%.
The CSE also ended lower with its All Shares Price Index (CASPI)—losing 150 points to close at 14,169 and the Selective Categories Index – CSCX shedding 83 points to close at 8,514. CSE turnover value was Tk 17 crore.
Among traded issues, 53 gained, 200 declined and 28 remained unchanged at the Chittagong Stock Exchange.
(DT)
