Core index sheds 24.72 points
FE Report | Monday, 12 January 2015
Stocks ended lower Sunday after previous session's flat movement as investors' confidence remained shaky amid ongoing political turmoil in the country.
The market opened with a negative note which continued till the market closure amid modest volatility. DSEX, the prime index of the DSE went down by 24.72 points or 0.49 per cent to close at 4,943.99 points.
The two other indices also ended in red. The DS30 index, comprising blue chips dropped sharply by 18.90 points or 1.02 per cent to close at 1,854.14 points. The DSE Shariah Index (DSES) shed 8.24 points or 0.69 per cent to stand at 1,173.46 points.
However, turnover remained almost flat and amounted to Tk 3.08 billion, registering an increase of 4.76 per cent over the previous session's value of Tk 2.94 billion.
The investors' attention was mostly focused on textiles, engineering and power - the sectors that accounted for 16.99 per cent, 11.27per cent and 11.10 per cent respectively of the day's total turnover value.
"The investors' confidence level was shaken, which consequently placed them to vigilant mode, due to ongoing political instability," said International Leasing Securities in an analysis.
At the same time, price correction of large-cap stocks augmented the fall. However, most of the issues in textile sector, and particular stocks from power sector enjoyed gain, said the International Leasing.
LankaBangla Securities said: "Investors' remained cautious throughout the day amid countrywide blockade, as benchmark index continue to consolidate between 4,900 to 5,000 points".
Most of the large-cap stocks lost market capitalization bringing the benchmark index down. Meanwhile some of the small caps rallied led by mostly textile stocks, said the stocks broker.
"Bumpy journey on DSE continues while mainstream political condition remained in a fix," said IDLC Investments in an analysis.
News of export growth was welcomed by the investors and among the top ten gainers; six came from textile sector and gained 1.5 per cent. The sector also captured the highest turnover as well as highest daily return, said the merchant bank.
"The market closed in red amid political instability in the country and investors' confidence erosion," said BRAC EPL, a stock brokerage in an analysis.
All the large-cap sectors closed lower. Cement posted the highest loss of the session, shedding 2.83 per cent. Food and allied and telecommunication went down by 0.60 per cent and 0.71 per cent respectively.
Pharmaceuticals and power also edged down by 0.24 per cent and 0.37 per cent respectively. In the financial sectors, NBFIs lost 0.80 per cent and banks closed flat in red.
The losers took a lead over the gainers as out of 305 issues traded, 145 declined, 111 advanced and 45 remained unchanged on the DSE floor.
Activities increased in the major bourse (DSE) where trade and volume were up by 9.43 per cent and 14.46 per cent respectively. A total of 0.085 million trades were executed with trading volume of 82.89 million securities.
The market capitalisation on DSE stood at Tk 3,295.26 billion against Tk 3,310.81 billion in the previous session.
Lafarge Surma Cement was the most traded stock for the seven consecutive sessions with shares worth Tk 110.59 million changing hands followed by Agni Systems, Saif Powertec, Mozzafar Hossain Spinning Mills and IDLC Finance.
Alltex Industries was the day's top gainer, posting a rise of 9.93 per cent while Sonargoan Textiles was the day's worst loser, plunging 7.07 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) closed lower with its Selective Categories Index - CSCX - lost 30.13 points to close at 9,194.11points.
Losers beat gainers 126 to 87, with 21 issues remaining unchanged at the port city bourse that traded 8.57 million shares and mutual fund units, turnover value of Tk 269.74 million.
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