DSEX dips below 4,800-mark again

Stocks ended marginally lower Tuesday, for the fourth consecutive day as investors went for late hours selling binge, anticipating further correction.
The market started with a mixed trend and gradually landed into the red as the session progressed. DSEX, the prime index of the Dhaka Stock Exchange (DSE), fell below the 4,800-mark after seven-day and settled at 4,791.47, shedding 24.16 points or 0.50 per cent.
The two other indices also closed lower. The DS30 index, comprising blue chips, dropped 9.83 points or 0.52 per cent to finish at 1,859.48. The DSE Shariah Index (DSES) fell 4.89 points or 0.41 per cent to end at 1,184.11.
Turnover dipped below Tk 6.0 billion-mark to Tk 5.47 billion, which was 17 per cent lower than the previous session's Tk 6.60 billion. It was also 15-session lowest turnover since July 22.
The investors' attention remained mostly focused on power, engineering and pharma - the sectors that accounted for 18.5 per cent, 18.3 per cent and 15.1 per cent of the day's total turnover.
"Psychological worries put investors in a discomfort zone, pressing them to shift position in anticipation of further correction," said IDLC Investments, a merchant bank, in an analysis.
The merchant noted that as almost all the half yearly earnings became available, investors started thinking about 'what comes next' and seemingly re-allocating their portfolio.
International Leasing Securities, a stockbroker, said, "The profit booking spell continued in the stocks that witnessed upsurge in prices during the recent period".
DSEX dips below 4800-mark as indecisiveness amongst the investors regarding the market outlook fueled the short-term trading preference that penalized the market, said the stockbroker.
Notable selling pressure in fuel and power, telecom and cement sectors mostly contributed in the fall of indices, the stockbroker added.
LankaBangla Securities said, "Power stocks made notable move to the down side. However, blue-chip stocks are showing strong grip on their current value".
All large-cap sectors closed lower. NBFIs lost the most of 1.43 per cent followed by Cement 1.19 per cent power 0.77 per cent. Telecommunications and banks lost 0.65 per cent and 0.44 per cent respectively.
Pharmaceuticals experienced a thin correction of 0.22 per cent and food and allied closed flat in red.
The losers took a strong lead over the gainers as out of 320 issues traded, 179 closed lower, 111 higher and 30 remained unchanged on the DSE trading floor.
Activities decreased in the major bourse where volume and trade were down 13.97 per cent and 13 per cent respectively. A total number of 0.128 million trades were executed with trading volume of 153.63 million securities.
The market capitalisation on DSE stood at Tk 3,365.86 billion against Tk 3,396.05 billion in the previous trading session.
United Power Generation and Distribution Company was remained the day's top turnover leader with shares of Tk 377 million changing hands followed by Islami Bank, FAR Chemicals, Square Pharma and CVO Petrochemical.
Northern Jute Manufacturing Company was the day's best performer, posting a rise of 8.74 per cent while ICB Fourth Mutual Fund was the day's worst loser, plunging by 6.40 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index - CSCX - lost 58.27 points to end at 8,949.34.
Losers beat gainers 157 to 75 with 27 issues remained unchanged on the port city bourse that traded 10.64 million shares and mutual fund units with a value of Tk 382 million.
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