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DSEX slips below 5,300-mark

Top ten traded cos snare 27pc transaction


FE Report | December 11, 2018 00:00:00


Stocks witnessed yet another bearish session on Monday as the core index fell below 5,300-mark as selling spree continued.

Dealers said investors were mostly on selling mood as rising non-performing loans coupled with falling foreign portfolio investment continued to weigh on investors' sentiment.

"Election sentiments are in the minds of investors and many of them have taken a cautious stance, taking the market in the downward trend for the third day in a row," said a stockbroker.

The market opened on positive note and the key index rose about 21 points within first 30 minutes of trading. But, rest of the session went down steadily.

Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,295, losing 10.53 points or 0.19 per cent over the previous day.

DSEX eroded 66 points in the past three consecutive sessions.

IDLC Securities said return from losing streak of food and banking sectors could not offset the decline in textile, power and telecommunication sectors.

Two other indices-the DS30 index and the DSE Shariah Index (DSES)-also drifted lower.

The DS30 index, comprising blue chips, shed 5.97 points to finish at 1,849 and the DSE Shariah Index lost 2.27 points to close at 1,219.

Turnover, another important indicator of the market, however, rose and the total transaction amounted to Tk 5.67 billion, which was 10 per cent higher than the previous day's turnover of Tk 5.16 billion.

Pharmaceuticals sector dominated the turnover chart, capturing 24 per cent of the day's total turnover, followed by textile with 19 per cent and engineering 11 per cent.

According to International Leasing Securities, the market kept losing as the investors continued trading with cautious stance ahead of national elections.

A total number of 155,100 trades were executed in the day's trading session with trading volume of 126.79 million securities.

The market capitalisation of the DSE fell to Tk 3,820 billion on the day which was Tk 3,832 billion in the previous day.

Power sector witnessed the highest correction of 1.41 per cent, followed by telecommunication 0.66 per cent, financial institutions 0.29 per cent, and engineering 0.25 per cent.

Food and allied posted the highest gain of 1.20 per cent, followed banking with 0.22 per cent and pharmaceuticals 0.12 per cent.

Of the 344 issues traded, 198 declined, 110 advanced and 36 issues remained unchanged on the DSE trading floor.

Top ten traded companies grabbed 27 per cent of the day's total turnover with Wata Chemicals topped the turnover chart with 415,104 shares worth Tk 209 million changing hands.

The other turnover leaders were Square Pharma, Pharma Aids, Khulna Power and National Tea Company.

CAMP IBBL Islamic Mutual Fund was the day's best performer, posting a gain of 9.34 per cent while Information Services Network was the worst loser, losing 10 per cent.

The port city bourse CSE ended lower with its CSE All Share Price Index - CASPI -losing 54 points to settle at 16,203 and the Selective Categories Index - CSCX -shedding 30 points to finish at 9,805.

The losers beat gainers as 158 issues closed lower, 66 ended higher and 28 remained unchanged on the CSE.

The port city bourse traded 7.67 million shares and mutual fund units worth more than Tk 256 million in turnover.

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