Asian Tiger Capital Partners market update on DSE*****

The Benchmark General Index DGEN retraced back by 0.53% on a volatile day of trading. Market was on the uptrend for the first two hours buoyed by successful registration of BD Fund. However, selling pressure intensified over the last ninety minutes of trading which led the Index to end in negative territory. Desco's 3rd quarter EPS figure which came out during trading hour clearly fell short of market expectation and had a contagion effect on overall market in terms of the decline. Also, a segment of traders after previous day's sharp rally sold off their holdings on the last trading day of the week preferring safety first in a market which still remains quite volatile and largely unpredictable in nature. The Index was resting slightly above 6050 mark upon market closure having lost almost 33 points. Total transaction amounted to BDT 6.66bn, which is 31.41% greater than previous day. Transaction amount picked up towards the late hours of trading as despite the late sell-off sufficient buying interest was noticed. Banking and NBFI sector gained 0.9% and 0.3% respectively which helped the Index from losing a bigger percentage. Insurance and Fuel & Power sector declined by 1.1% and 1.7% respectively. Other prominent sectors like Pharma, Textile and Food also lost 1.0%, 3.3% and 2.3% respectively. The DGEN went down by 0.53% to close at 6050.85 points. The total transaction was worth BDT 6.66bn. Price of 68 Issues appreciated whereas 181 Issues declined and 3 other remained unchanged.