New fiscal\\\'s first session goes bumpy

FE Report | Published: July 03, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

The first trading session of the new fiscal year closed slightly lower Thursday as cautious investors booked profit.
The market opened with a downbeat note in the morning and the negative trend went on throughout the session amid marginal volatility.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 10.52 points or 0.22 per cent to settle at 4,572.58 points, after gaining 128 points in the past three consecutive sessions.
The DSE Shariah Index (DSES) shed 0.98 points or 0.08 per cent to end at 1,121.05 points. However, the DS30 index, comprising blue chips, moved up by 3.54 points or 0.20 per cent to close at 1,772.90 points.
Turnover, the crucial indicator of the market, stood at Tk 5.04 billion, registering a decline of 15 per cent over the previous day's Tk 5.90 billion.
The investors' attention was mostly focused on engineering, pharma and power - the sectors that accounted for 21 per cent, 17 per cent and 13 per cent of the day's total turnover.
"Market predictably encountered sell-off as financial year-end passed by and tax incentive seekers liquidate their holding," said IDLC Investments, a merchant bank, in an analysis.
Large and mid-cap issues have been negative, as they accumulated the most presiding the fiscal year end, said the merchant bank.
"Despite other cap classes being positive, heavy weighting of the large and mid-cap stocks pulled DSEX down marginally," the merchant bank observed.
LankaBangla Securities, a stock broker, said, "After moving notably higher in the past three trading sessions, benchmark index gives back some ground in the middle of the session".
However, the index closed in the marginally red zone as blue-chip stocks helped the market recover at the end, said the stock broker.
"Despite the muted participation in broader market, aviation stocks continued to perform well, while other mid-cap stocks of engineering and textile sectors advanced," said the stock broker.
"Investor's profit booking stance created heavy selling pressure in the beginning," said International Leasing Securities, a stock broker, in an analysis.
However, opportunist investors pursued the buying strategy during the session and gainers took a lead over the losers during the session despite the fall in the major index, said the stock broker.
"Price correction in bank, financial institution and fuel and power mainly contributed to the index fall," said the stock broker
Large-cap sectors showed mixed performance. In the financial sector, NBFIs lost 1.89 per cent and banks also went 1.09 per cent down. Food and allied retraced by 0.83 per cent followed by power 0.69 per cent.
Pharmaceuticals experienced a thin correction of 0.16 per cent. Telecommunication advanced by 0.59 per cent while cement closed flat.
The gainers took a marginal lead over the losers as out of 312 issues traded, 140 advanced, 124 declined and 48 remained unchanged on the DSE trading floor.
Activities were mixed on the major bourse, where volume was down by 1.09 per cent, but trade was up by 2.85 per cent. A total of 0.129 million trades were executed with trading volume of 148.07 million securities.
The market capitalisation on the DSE stood at Tk 3,239.49 billion against Tk 3,247.30 billion in the previous trading session.
Newly Listed Olympic Accessories was the day's top turnover leader with shares worth Tk 318 million changing hands, followed by United Airways, Beximco, Appollo Ispat and United Power.
National Tubes was the day's best performer, posting a rise of 9.98 per cent while Hakkani Pulp and Paper was the day's worst loser, plunging by 9.98 per cent.
The port city bourse Chittagong Stock Exchange (CSE) closed flat with its Selective Categories Index - CSCX - lost 0.08 points to close at 8,577 points.
Gainers beat losers, 103 to 99, with 41 issues remaining unchanged at the port city bourse that traded 24 million shares and mutual fund units, turnover of Tk 518 million.
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