Stock plunges further due to cash out for Eid

Stock tumbled further yesterday due to large cash out mostly by retail investors for meeting their demand during the forthcoming Eid, reports BSS.
“Market sentiment remained sluggish, suspecting that the major investment from the retail investors is unlikely for now as they might keep provision for Eid-ul-Azha. As a result, indices have taken sideline with a negative connotation,” said IDLC Investment Limited.
The cash out triggered a sell pressure, eroding 26 points of the broader DSEX index at Dhaka Stock Exchange (DSE), which finally closed the session at 4758.43. The blue-chip DS30 and Shariah DSES also came down to 1815.77 and 1167.90 respectively.
The activities on DSE was modest throughout the day, generating a trade value of Tk 415 crore for 12.56 crore shares while most of the issues closed lower.
Out of the day’s 320 issues traded, only 117 were on the gaining side, with Monno Ceramic, Legacy Footwear, Islami Insurance, Hakkani Pulp and Monno Staff advancing most.
The session saw prices of 165 securities falling across the board when Jute Spinning, Rupali Life, Aims 1stMF, National Life and Prime1ICBA lagging most.
The non-banking financial (NBFI) stocks showed some strength despite the price fall in most of the major sectors.
“Decision to allocation of government’s fund to the NBFI sectors might have spurred investors to take position on NBFI stocks”, said Lanka Bangla Securities Limited.
Square Pharmaceuticals topped the turnover list followed by GP, Aman Feed, United Air, Emerald Oil and Lanka Bangla Finance.
Chittagong Stock Exchange (CSE) was closed yesterday further down, with its CSCX falling by 36.46 points to finish the day at 8865.32. Out of the traded 260 securities, 85 closed higher, 137 lower and 38 unchanged.
The daily transaction fell to 95.73 lakh shares worth Tk 29.61 crore shares.

Stock plunges further due to cash out for Eid

Stock tumbled further yesterday due to large cash out mostly by retail investors for meeting their demand during the forthcoming Eid, reports BSS. Market sentiment remained sluggish, suspecting that the major investment from the retail investors is unlikely for now as they might keep provision for Eid-ul-Azha. As a result, indices have taken sideline with a negative connotation, said IDLC Investment Limited. The cash out triggered a sell pressure, eroding 26 points of the broader DSEX index at Dhaka Stock Exchange (DSE), which finally closed the session at 4758.43. The blue-chip DS30 and Shariah DSES also came down to 1815.77 and 1167.90 respectively. The activities on DSE was modest throughout the day, generating a trade value of Tk 415 crore for 12.56 crore shares while most of the issues closed lower. Out of the days 320 issues traded, only 117 were on the gaining side, with Monno Ceramic, Legacy Footwear, Islami Insurance, Hakkani Pulp and Monno Staff advancing most. The session saw prices of 165 securities falling across the board when Jute Spinning, Rupali Life, Aims 1stMF, National Life and Prime1ICBA lagging most. The non-banking financial (NBFI) stocks showed some strength despite the price fall in most of the major sectors. Decision to allocation of governments fund to the NBFI sectors might have spurred investors to take position on NBFI stocks, said Lanka Bangla Securities Limited. Square Pharmaceuticals topped the turnover list followed by GP, Aman Feed, United Air, Emerald Oil and Lanka Bangla Finance. Chittagong Stock Exchange (CSE) was closed yesterday further down, with its CSCX falling by 36.46 points to finish the day at 8865.32. Out of the traded 260 securities, 85 closed higher, 137 lower and 38 unchanged. The daily transaction fell to 95.73 lakh shares worth Tk 29.61 crore shares.