Prime index of DSE dips below 5,100-mark again

The stock market plummeted for the second straight session Monday with falling turnover as ongoing political tension affected the investors' confidence level.
Meanwhile, trading and official activities on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) will remain closed today (Tuesday)) on the occasion of Holy Ashura.
Amid the countrywide strike, the market opened with a mixed trend. At the end of the session, DSEX, the prime index of the DSE dipped below 5,100-mark after one month and ended at 5,065.14 points, shedding 40.07 points or 0.78 per cent.
The other two indices also closed in the red. The DS30, comprising blue chips lost 24.29 points or 1.26 per cent to close at 1,893.79 points. The DSE Shariah Index declined 9.62 points or 0.79 per cent to close at 1,195.10 points.
The total turnover on DSE came down to Tk 6.80 billion, registering a decline of 7.10 per cent over the previous session's value of Tk 7.32 billion.
The investors' attention was mostly concentrated on power, engineering and pharma - the sectors that accounted for 22, 19 per cent and 17 per cent respectively of the day's total turnover.
"The stock market extended its negative vibe for the second session as ongoing political tension might affect the investors' confidence level," said International Leasing Securities in an analysis.
"Investors remained cautious as country is facing political deadlock owing to 72-hour hartals in this week," said the stock broker.
"Market stays in the grip of correction although some major stocks from different sectors tried to rally through the trading day," said Zenith Investments.
Most of the sectors tried to balance the tug of war between both buyer and seller, but at the end, the buyers were outnumbered by the sellers, it said.
 "The earning season is near to its end and market will again set its direction accordingly," said the Zenith analysis.
All the heavy-weight sectors ended into the red territory with telecommunication, food and allied and banks suffered most, losing 2.36 per cent, 1.30 per cent and 1.21 per cent respectively.
The port city bourse, CSE also closed lower with its Selective Categories Index - CSCX - lost 47.40 points to close at 9,504.82 points.
Losers beat gainers 130 to 81, with 17 issues remaining unchanged at the port city bourse that traded 13.36 million shares and mutual fund units, turnover value of Tk 548.71 million.

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