Dhaka bourse drifts lower

Dhaka bourse closed marginally lower on Wednesday extending the losing streak for fifth consecutive session amid investors' less participation.
On the day, the turnover value also declined marginally on Dhaka Stock Exchange (DSE) following correction witnessed by major sectors including bank and financial institutions.
The market started the day's session on a positive note but later DSE broad index, DSEX started to decline and the falling trend continued till closure.
At the end of the session, the DSE broad index, DSEX closed at 6172.44 points with a loss of 0.42 per cent or 26.08.
Asked about the latest trend, Mohammad Saifur Rahman, a spokesperson of BSEC, said at a press brief on Wednesday that ups and downs are usual phenomena of the capital market.
"The market is comparatively stable," Rahman said at the press briefing arranged as part of observing the government's development fair to be held January 11-13, 2018.
On Wednesday, the shariah based index DSES declined 0.24 per cent or 3.44 points to close at 1387.96, while the blue chip index DS30 closed at 2253.50 with a loss of 0.41 per cent or 9.28 points.
According to a market review of EBL Securities, the premier bourse observed notable price correction for the fifth consecutive session as day long profit booking tendency was observed on the DSE.
"The core index remained downward throughout the session as investors tried to remain on sideline amid liquidity crisis. Thus, shaky investors booked profit on bank, cement and miscellaneous sectors," said the market review of EBL Securities.
Of 335 issues traded, 104 advanced, 189 declined and 42 were unchanged on the premier bourse DSE.
Of the major sectors, which witnessed correction, bank declined 0.8 per cent, engineering 0.2 per cent, financial institutions 0.4 per cent, fuel & power 0.4 per cent and textile 0.6 per cent.
Of the gaining sectors, food & allied advanced 0.3 per cent, mutual fund 0.2 per cent and telecommunication 0.1 per cent.
Investors focussed mostly on engineering sector which grabbed 20.7 per cent of the market turnover followed by textile 18.1 per cent, bank 15.3 per cent and pharmaceuticals & chemicals 10.1 per cent.
On the Chittagong Stock Exchange (CSE), the benchmark index CASPI closed at 19098 with a loss of 77 points.
Of 236 issues traded, 57 advanced, 143 declined and 36 were unchanged and the turnover stood at above Tk 314 million on the port city bourse CSE.

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