Prime bourse dips to 5-month low

FE Report | Published: June 18, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Amid apparent lack of clear indications and gloomy sentiment, the market fell further Tuesday with the key index of the prime bourse dipping to five months low at 4,338.87 points.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 19.88 points or 0.45 per cent to close at 4,338.87 points which was five months' low since January 7, this year.
The other two indices also ended in red. The DS30, comprising blue chips lost 12.39 points or 0.76 per cent to close at 1,605.46 points. The DSE Shariah Index (DSES) dropped 8.61points or 0.85 per cent to close at 1,001.18 points.
The total turnover on DSE came down to Tk 2.63 billion which was 17.55 per cent lower compared to previous session's value of Tk 3.19 billion. It was also 15-seeion lowest turnover since Tk 2.40 billion on May 27.
"The bearish momentum continued with the investors' cautious attitude towards the market," commented International leasing Securities, in its regular market analysis.
LankaBangla Securities, said, "Index extended further losses Tuesday. Repeated closing of index below the 10-day moving average is an indication that the short-term trend remains negative".
Dragged by profit booking on selected stocks of bank, NBFI and power sectors over consistent low market participation, index has reached to its five months low, said the stock broker.
Currently, 4,300 points level is playing as psychological support level and market is testing this level, said the stock broker.
"Indecisiveness amid investors remained persistent and continued slicing market sentiment. Eventually market participants prompted to be in safe zone," said IDLC Investments.
Triggered by those facts, market level activity declined much, putting turnover below Tk 3.0 billion level within last half month, said the merchant bank.
However, scrip-centric positioning and profit taking in-phases was observed throughout the session, the merchant bank added.
Zenith Investments, said "Lingering pessimism and profit taking prolongs, flooding the market with further losses. The total turnover volume dipped further, along with major indexes, as stocks goes for sharper decline".
"Given the current scenario, it seems that the market requires more than just a modest strength to get back to its positive trend," said the Zenith analysis.
The losers took a modest lead over the gainers as out of 292 issues traded, 145 declined, 102 advanced and 45 closed unchanged on the DSE floor.
All the major sectors posted loss. Pharmaceuticals lost the most with 0.68 per cent - followed by telecommunications and food losing 0.47 per cent and 0.39 per cent respectively. Fuel and power, banks and NBFIs lost 0.31 per cent, 0.22 per cent and 0.08 per cent respectively.
Cement sector faced noteworthy price correction with 2.46 per cent loss after recording gain in the previous session.
Most of the large caps suffered from the market setback. Lafarge Surma Cement, Square Pharma and GP lost 3.1 per cent, 2.01 per cent and 0.56 per cent respectively.
Activities decreased in the major bourse (DSE) where volume and trade were down by 14.81 per cent and 17.44 per cent respectively. A total of 0.069 million trades were executed with 56.64 million securities of trading volume.
The market capitalization on DSE came down to Tk 2,880.55 billion against Tk 2,891.15 billion in the previous session.
Lafarge Surma Cement was the most traded stocks with shares worth Tk 347.99 million changing hands followed by GP, BSRM Steels, Square Pharmaceuticals and Beximco Limited.
Kohinoor Chemicals was the day's highest gainer, posting a rise of 8.51 per cent while Pragati Life Insurance was the day's worst loser, slumping by 6.30 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index - CSCX - lost 30.33 points to close at 8,260.35 points.
Losers beat gainers 117 to 55, with 31 issues remaining unchanged at the port city bourse that traded 6.01 million shares and mutual fund units with turnover value Tk 205.77 million.