Major sectors drag Dhaka stocks down

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FE Report
Dhaka stocks failed to edge higher despite staging a strong comeback in the second half of trading Tuesday, as major sectors-telecommunication, cement, fuel and power-lost.
The benchmark index of Dhaka Stock Exchange (DSE) lost 35 points just ten minutes into the session. In the next 35 minutes, it posted a sharp gain of about 60 points, but after 20 minutes, it kept sliding steadily until the end of the session.
At close the benchmark DSE General Index (DGEN) stood at 5,644.192, down by just 1.10 points or 0.02 per cent.
The broader All Shares Price Index (DSI) lost 3.51 points or 0.07 per cent to close at 4,638.67 while the DSE-20 blue chip index went up by 7.85 points or 0.26 per cent to 3,018.58.
The telecommunication, cement and fuel, and power sectors were the key players behind the fall of the market declining by 0.10 per cent, 0.06 per cent and 0.05 per cent respectively.
At the end of the session, the daily turnover stood at Tk 11.72 billion, down by 9.70 per cent from that of the previous day.
Out of 248 issues traded on the day, 139 ended positive, 106 negative and three remained unchanged.
The telecommunication sector closed marginally lower, GP lost 0.46 per cent.
The banking sector lost slightly, as the majority of the banks declined. The significant gainers were National Bank (3.22 per cent), Dhaka Bank (2.04 per cent) and Trust Bank (1.44 per cent).
Non-banking financial institutions (NBFI) led the list of top performers with a contribution of 0.08 per cent, followed by the miscellaneous and pharma sectors with 0.03 per cent and 0.02 per cent respectively.
The general insurance sector finished 1.89 per cent higher, as big insurers gained. Pragati Insurance gained 8.94 percent and Green Delta Insurance 2.09 percent.
The life insurance sector lost 1.47 per cent as most of the companies in the sector declined.
The pharmaceutical sector went up by 0.27 per cent, led by the 0.41 percent gain of Glaxo Smith Kline. But Square Pharma, Reckitt Benckiser and Renata retreated.
The day's top gainers were Rahima Food, Dulamia Cotton, Anlima Yarn, Savar Refractories, and Modern Dyeing.
The day's major losers included Prime Insurance, Dhaka Fisheries, Apex Adelchi Footwear, Lafarge Surma Cement, Bangladesh Lamps and International Leasing and Financial Ltd.