Stocks open week down on lean trade
BSS
Stock markets closed the first trading session of the week down yesterday as transaction was low after showing moderate activities during early trade, reports BSS.
All the three indices at Dhaka Stock Exchange (DSE) finished the session nearly flat when the daily transaction fell noticeably. Chittagong Stock Exchange (CSE) also opened week yesterday downward, with its major CSCX index losing 5.84 points to finish the day at 9021.60.
The broader DSEX was only 8.44 points down at close of 4,831.71 when the blue-chip DS30 fell by 6.71 points to 1,844.23 and the Shariah DSES declined by 5.96 points to 1,184.97.
The daily trade value of DSE fell by 21.65 per cent to Tk 467.73 crore while the volume was nearly 12 per cent down at 12.72 crore shares.
The session began notably bullish in the early hour, but trading lost the momentum as both the selling and buying sides became weak in absence of sufficient trade, which fell by 13.35 per cent from the last week close.
The lower level of activities caused price fall in a large number of securities across the board. Out of the days 317 issues traded, only 95 closed moderately higher when 181 incurred loss.
IDLC Finance said, In continuation of recent rhythm in the bourse, market closed flat, despite promising start of the session. As investors remained largely divided on the coming trend of the market, sideways moved persisted with some sector and scrips play.
Another leading stockbroker, LanakaBangla Securities said, Market showed strength in early trading as banking stocks was rolling up gradually, however, profit taking in last hour following to three days of continual rise in index inched down the market by 8.44 points.
Bank, food and allied and telecom were among the major advancing sectors while cement, NBFI and textile sectors lost most.
The days top five gaining issues were Intech, Bank Asia, 4th ICB, FBIF and Prime1 ICBA. The major losing securities included Savar Ref, Zeal Bangla, Kay Que, Pragati Life and Monno Ceramic.
SPCL topped the turnover list followed by Lafarge Surma, City Bank, Far Chemical and Square Pharma.
Chittagong Stock Exchange (CSE) also opened week yesterday downward with a total of 1.05 crore shares worth Tk 32.77 crore changed hands on the day when 77 issues closed higher and 129 lower among traded 249 securities.
