After a single-session break, the stock market returned to the red again Tuesday as investors were hungry for cash over upcoming Eid-ul-Fitr.
Only seven trading sessions are left ahead of Eid vacation. "Investors' sentiment still remains shaky and their prompt need to encash the settlements ahead of Eid-ul-Fitr sent the market in red once again," said an analyst.
DSEX, the prime index of the Dhaka Stock Exchange (DSEX) ended at 4,362.78 points, shedding 14.10 points or 0.32 per cent.
The other two indices also ended in red zone. The DS30, comprising blue chips lost 11.54 points or 0.72 per cent to close at 1,594.93 points. The DSES declined by 5.70 points or 0.57 per cent to close at 992.41 points.
Although turnover improved slightly, but remained below Tk 2.0 billion level for the fifth sessions on DSE. The total turnover stood at Tk 1.93 billion which was 3.85 per cent higher compared to previous session's value of Tk 1.86 billion.
"Overall apathy in market anatomy resumed beating market sentiment. Setting up of new optimistic export target of $34.5 billion for FY 2014-15 didn't impulse market participants," commented IDLC Investments, in its regular market analysis.
Investors were much stimulated with cashing out tendency over upcoming Eid-ul-Fitr. Hence, turnover stayed below Tk 2.0 billion level for the fifth consecutive session, said the merchant bank.
International Leasing Securities said: "After previous session's sharp gain, the hesitation of the investors was evidently reflected through the day's volatile movement of the index".
Many investors went for selling their stocks which were locked in the market due to price fall in the last few trading sessions, said the International Leasing.
"Except bank, cement and NBFI, all the sectors ended the day red, which might be a short-term correction as many investors have the eyes for newly listed and sector specific stocks," commented LankaBangla Securities.
The losers and gainers were almost same as out of 292 issues traded, 123 advanced, 124 declined and 45 remained unchanged on the DSE floor.
Sectoral performance was mixed. Among the major sectors the financial sector - banks and NBFIs - advanced marginally by 0.20 per cent and 0.15 per cent respectively.
Telecommunication, pharmaceuticals, fuel and power and food and allied sectors lost 1.31 per cent, 0.95 per cent, 0.48 per cent and 0.36 per cent respectively.
Activities increased in the major bourse (DSE) where trade and volume were up by 44.74 per cent and 10.04 per cent respectively. A total of 0.071 million trades were executed with 50.78 million securities of trading volume.
The market capitalization on the DSE stood at Tk 2,882.62 billion against Tk 2,889.27 billion in the previous session.
A new issue - Shahjibazar Power Company Ltd made debut Tuesday at DSE, but could not attract investors much, gaining only 46 per cent and securing second position in turnover with Tk 207.33 million.
The newcomer's share price rose as high as Tk 39 and as low as Tk 35 in intra-day trading session and closed at Tk 36.5 from its offer price of Tk 25.
Beximco Limited was the most traded stock with shares worth Tk 218.51 million changing hands followed by debutant Shahjibazar Power, Square Pharma, GP and Appollo Ispat.
Shahjibazar Power was the day's top gainer, posting a rise of 46 per cent while Bangladesh Services was the day's worst loser, slumping by 13.69 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also ended in red zone with its Selective Categories Index - CSCX - lost 37.35 points to close at 8,291.44 points.
Losers beat gainers 109 to 65, with 26 issues remaining unchanged at the port city bourse that traded 5.94 million shares and mutual fund units, turnover value of Tk 220.51 million.
