FE Report
Stocks fell marginally as trading resumed on Monday after the five-day Eid holidays, with most of the investors remaining in selling mode.
DSEX, benchmark index of Dhaka Stock Exchange (DSE), went down by nearly 24 points or 0.44 per cent to settle at 5,341.
The trading and administrative activities of both the bourses remained close from June 13 to June 17 on the occasion of the Eid-ul-Fitr.
Presence of the investors was thin on the trading floors as many investors are yet to resume businesses in Dhaka after enjoying Eid holidays in the rural areas.
However, many of them executed trade over telephone and DSE mobile app, brokers said.
"Investors mostly pursued safe strategy, cashing out their holding, taking the market into negative territory," said a leading broker.
He noted that expectations of earnings declaration and selected June-ending stocks from the fuel and power sector drew some participants into the market.
Accordingly, the fuel & power sector posted the highest gain of 1.97 per cent.
Following the last session's positive movement, the market opened on positive note, but late hours selling spree wiped out all the early gains.
Finally, the DSEX fell nearly 24 points and the CSE All Share Price Index lost 56 points at closing.
According to EBL Securities, widening trade deficit, depreciation of BDT against USD, and fear for further depreciation have prompted the investors to sell shares.
The DS30 index, comprising blue chips, also fell 16 points to finish at 1,942 points. However, the DSE Shariah index advanced 1.15 points to close at 1,239 points.
Trading activities increased marginally, as total turnover on the DSE stood at Tk 4.85 billion, which was 6.12 per cent higher than the previous session's Tk 4.57 billion.
"After Eid holidays, stocks started trading with gloomy vibe as the investors booked profit on banking stocks," commented International Leasing Securities.
Among the large-cap sectors, the banking posted the highest loss of 1.61 per cent, followed by food & allied with 0.35 per cent.
The power sector saw the highest gain of 1.97 per cent, followed by financial institutions 1.30 per cent, telecommunication 1.07 per cent, engineering 0.20 per cent, and pharmaceuticals 0.01 per cent.
Of the issues traded, 175 closed lower, 125 ended higher and 34 remained unchanged on the DSE trading floor.
Alif Industries topped the DSE turnover chart with shares worth Tk 321 million changing hands, closely followed by Delta Brac Housing Finance, Grameenphone, Khulna Power Company and United Power.
Monno Ceramic Industries was the day's best performer, posting a gain of 9.98 per cent while the Savar Refractories was the worst loser, losing 8.81 per cent.
The port city's bourse, CSE, also closed lower with the CSE All Share Price Index, CASPI, losing 52 points to settle at 16,453.
The Selective Categories Index, CSCX, also lost 32 points to finish at 9,948 points.
Here too, the losers beat the gainers as 105 issues closed lower, 73 higher and 24 issues remained unchanged on the CSE.
The port city bourse traded 2.95 million shares and mutual fund units worth more than Tk 118 million in turnover.
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