Major sectors’ slump pulls bourses down

Country’s premier bourse, Dhaka Stock Exchange (DSE), slipped today defying the upbeat vibe of previous session following the selling binge of risk-averse investors, reports BSS.

The investors rushed for selling from the beginning of the session and continued till the closure. Telecom, textile, pharma, engineering and food sectors stocks observed liquidation, which pulled the prime index down by 20 points, said market analysts. The broad index, DSEX returned to red again after a day and closed at 4761.42 points on Monday with a loss of 20.67 points or 0.43 percent.

Besides, the two selective indices, DSE30 also went down by 10.45 pointswhile the Shariah index, DSES decreased by 9.68 points to stand at 1675.49 points and 1089.52 points respectively. However, buoyancy was observed on sector specific stocks based on the quarter earnings and year-end dividend declarations especially in bank and fuel and power sectors.

Trading activities has increased by 12.1pc over the last session as the investors took position on lucrative price levels. On the DSE trading floor, a total number of 104,825 trades were executed in today’s trading session with a trading volume of 115.88 million securities. Losers took a strong lead over the gainers as out of 354 issues traded, 63 securities gained price while 250 declined and 41 remained unchanged. Most of the sectors witnessed correction today.

 Among the major sectors based on market capitalization — textile (-2.9pc), telecom (-1.2pc), pharma (-1.0pc), engineering (-2.2pc) and food (-2.4pc) sectors witnessed price correction while bank (1.4pc) and fuel and power (2.0pc) sectors achieved price appreciation in the day’s session, according a market operator, International Leasing Securities.

It said investors’ activity was mostly centered on general insurance (16.6pc), bank (16.3pc) and pharma (15.6pc) sectors. United Powwr (3.7pc), National Tubes (3.5pc) and Premier Bank (3.1pc) led the scrip wise turnover board today. The top 10 gainers were United Power, Trust Bank, Eastern Insurance, Shahjalal Islami Bank, Paramount Insurance, Mutual Trust Bank, Pubali Bank, First Security Bank, IFIC Bank and GlaxoSmithKline. United Power topped the turnover chart followed by National Tubes, Premier Bank, Wata Chemicals, Square Pharma, Monno Stafflers, Paramount Insurance, Continental Insurance, Summit Power and Eastern Insurance. The top 10 losers were CVO PRL, Monno Ceramics, Silva Pharma, GQ Ball pen, Progressive Life Insurance, VFS Thread, Kattali Textile, K&Q, Khan Brothers PP and Miracle Industries.

On the other hand, the port city bourse, Chittagong Stock Exchange (CSE), also registered an upbeat overcoming the sluggish trend of previous day. CSCX and CASPI decreased by 35.10 points and 59.94 points to stand at 8805.37 points and 14482.65 points respectively. At CSE, a total of 8,950,449 shares and mutual fund of 255 companies were traded, of which 63 issues advanced while 163 declined and 29 issues remained unchanged.