Selling frenzy pushes stocks down at DSE

Country’s capital bourse, Dhaka Stock Exchange (DSE) ended Monday with a losing motion leaving behind two-day consecutive winning sessions. Late hour’s selling pressure mostly in few large-cap stocks, fuel-power, bank, and food and allied sectors forced the DSE to embrace negative note, according to analysts.

However, market turnover increased slightly from the last day’s session, mainly driven by the selling pressure. The turnover stood at Taka 4.07 billion by the end of the session which is 10 percent higher than yesterday. At DSE, the core index, DSEX closed at 5008.96 points with a loss of 24.83 points. Besides, the two selective indices, DSE30 decreased by 8.64 points and DSES decreased marginally by 1.97 points to stand at 1758.11 points and 1169.50 points respectively.

A total number of 125,427 trades were executed in today’s trading session with a trading volume of 95.83 million securities. At DSE, 74 securities gained price while 237 declined and 42 remained unchanged. Sector wise performance exposed that telecom (2.7%), IT (0.5%) and pharma (0.2%) sector experienced highest price appreciation while fuel and power (-2.2%), general insurance (-1.8%) and jute (-1.5%) sector experienced price correction in today’s session.

Investors’ attention was mostly concentrated on Pharma (22.5%), Engineering (17.3%) and Textile (9.1%) sectors. The top ten gainers were Al-haj Textile, Zemini Sea Food, Wata Chemical, National Feed Mill, IBN Sina Pharmaceutical, Prime Finance First Mutual Fund, National Tea, ITC, Monno Stafflers and Samorita Hospital.

National Tubes topped the turnover list followed by IBN Sina Pharmaceuticals, Monno Ceramic, United Power, Stylecraft, Monno Stafflers, Wata Chemical, Beacon Pharmaceutical, ITC and Grameenphone. Top ten losers were United Power, Global Insurance, Zahin Spinning, EBL NRB Mutual Fund, ML Dying, Queen South, KPCL, Khan Brothers PP, Fareast Knitting and City General Insurance.

On the other hand, the port city bourse, Chittagong Stock Exchange (CSE) ended its session with a loss today. CSCX and CASPI increased by 36.72 and 63.85 points respectively. At CSE, a total of 5,146,673 shares and mutual fund of 256 companies were traded, of which 50 issues advanced while 185 declined and 21 issues remained unchanged.