Dhaka bourse extends losing streak

'Z' category co top gainer

FE Team | Published: January 09, 2018 23:41:41

FE Report
Dhaka bourse Tuesday closed marginally lower extending the losing streak for fourth consecutive session following investors' less participation.
On the day, most of the major sectors, other than pharmaceuticals and chemicals, declined on Dhaka Stock Exchange (DSE).
The market started the session on a negative note and soon later the DSE broad index, DSEX displayed an upward trend for a while.
Later, the core index declined and witnessed fluctuation till closure. At the end of the session, the DSEX closed at 6198.54 points with a loss of 0.19 per cent or 11.97.
According to a market review of International Leasing Securities, Dhaka bourse closed in negative zone stretching the market plunge to fourth consecutive sessions, as the investors sold shares anticipating further fall.
Some market insiders, however, said many investors adopted wait-and-see policy amid a rumour that the banks' advance to deposit (AD) ratio ceiling may be increased by the regulator.
The shariah based index DSES declined 0.23 per cent or 3.22 points to close at 1391.41, while the blue chip index DS30 closed at 2262.78 with a rise of 0.05 per cent or 1.33 points.
"The risk-averse investors started to sell off shares from the beginning of the session. However, the market started to rebound within one hour, but the profit booking of the investors pushed down the market in the later part of the session," said the International Leasing Securities.
It also said investors' selling appetite were observed in financial institution, telecom and bank sectors stocks while some optimistic investors took position in pharmaceutical and ceramic sectors.
Of total issues traded, 113 advanced, 154 declined and 68 were unchanged on the premier bourse DSE.
The turnover stood at above Tk 4.48 billion which was 6.15 per cent less than the turnover of the previous session.
Of the major sectors, which witnessed correction, bank declined 0.3 per cent, engineering 0.3 per cent, fuel & power 0.2 per cent and telecommunication 0.4 per cent.
Of the gaining sectors, pharmaceuticals & chemicals advanced 0.4 per cent, ceramic 0.5 per cent and general insurance 0.1 per cent.
Banking sector issues grabbed 19.1 per cent of the market turnover followed by textile 19 per cent, engineering 12.5 per cent and pharmaceuticals & chemicals 8.5 per cent.
Dragon Sweater and Spinning topped the turnover chart with a value of Tk 193 million followed by United Power Generation and Distribution Company (UPGDC) Tk 177 million, Paramount Textile Tk 133 million, BRAC Bank Tk 122 million and Square Pharmaceuticals Tk 113 million.
Jute Spinners, a 'Z' category company, was the number one gainer with a rise of 9.94 per cent to close at Tk 151.50.
On the other hand, UPGDC was the worst loser after declining 14.83 per cent to close at Tk 165.30.
All indices also declined on Chittagong Stock Exchange (CSE) on Tuesday.
The benchmark index CASPI closed at 19176 points with a loss of 52 points.
Of 229 issues traded, 76 advanced, 121 declined and 32 were unchanged and the turnover stood at above Tk 207 million on the second bourse of the country.
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