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.
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