Dhaka, Bangladesh
Stocks end in correction

Stocks end in correction

DHAKA, oct 1, 2020 (BSS) – Country’s both the bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) closed trade Wednesday extending correction due to heavy sell pressure from the risk- averse investors on sector specific issues. DSE remained in red after passing a volatile session as the investors’ state of mind oscillated between optimism and watchfulness. Following the previous session, the market started with positive note, but some investors opted to book some quick gain that saw price surges over the last few weeks. The bargain hunters were taking positions on mutual funds, engineering and financial institution sectors. But, the risk-averse investors’ heavy sell pressure on miscellaneous, general insurance, fuel and power and telecom sector stocks pushed down the benchmark index. At DSE, the broad index, DSEX settled at 4963.29 points on Wednesday with a loss of 19.08 points or 0.38 percent. Besides, two selective indices, Blue Chip index, DSE30 and Shariah index, DSES also went down by 9.14 points and 5.14 points to settle at 1695.99 points and 1120.38 points respectively. On the DSE trading floor, a total number of 176,327 trades were executed in today’s trading session with a trading volume of 390.57 million securities. However, turnover has increased by 7 percent over last session as the investors reshuffled their portfolios ahead of quarter-end earnings disclosures and year- end dividend declarations. DSE’s turnover, a crucial indicator of the market, stood at Taka 9.14 billion from Taka 8.53 billion in the previous session. Losers took lead over gainers as out of 355 issues traded, 132 securities gained price while 191 declined and 32 remained unchanged. The market-cap of DSE increased to Taka 3,996 billion which was Taka 3,986 billion in the previous session. The general insurance sector dominated the turnover board with 25 percent of total turnover while top gainer lists were comprised of mutual fund units, according to a market analyst, International Leasing Securities Limited (ILSL). It said major sectors witnessed correction today. Among the major sectors based on market capitalization – general insurance (-1.0%), fuel and power (-0.7%) and telecom (-0.6%) sectors witnessed price correction while mutual fund (5.1%), engineering (4.2%) and financial institutions (1.4%) sectors achieved price appreciation in the day’s session. The investors’ activity was mostly centered on general insurance (24.7%), textile (11.7%) and financial institution (10.5%) sectors while PTL (5.6%), BEXIMCO (3.0%) and SANDHANINS (2.8%) led the scrip wise turnover board today, added ILSL. The top 10 gainers were Eastern Bank First Mutual Fund, Paramount Textile, SEML LEC Mutual Fund, First Janata Mutual Fund, CAPM IBBL Mutual Fund, PHP Mutual Fund-1, First Prime Finance Mutual Fund, Walton Hi-Tech, IFIL Islami Mutual Fund-1 and Popular Life First Mutual Fund. Paramount Textile topped the turnover chart followed by Beximco Limited, Sandhani Life Insurance, Asia Pacific Insurance, Beximco Pharma, Brac Bank, Pioneer Insurance, BD Finance, Republic Insurance and Nitol Insurance. The top ten losers were QG Ball Pen, United Air, Asia Pacific Insurance, Tung Hi Industries, Khan Brother PP, Pravati Insurance, Paramount Insurance, Prime Insurance, BIFC and Apolo Ishpat. On the other hand, port city bourse, Chittagong Stock Exchange (CSE) also closed trade in red extending the bearish streak of the previous session. Selective categories index, CSCX and all shares price index, CASPI declined by 52.55 points and 94.47 points to stand at 8507.45 points and 14167.22 points respectively. At CSE, a total of 17,174,914 share and mutual funds of 281 companies were traded, of which 79 issues advanced while 174 declined and 28 issues remained unchanged.

Share |