Stocks fall on sale pressure

Stock market yesterday lost the steam to increasing sale pressures while investors were keen in booking profit through selling the shares which saw constant price rise in the past four consecutive sessions, reports BSS.
The daily trade value rose to Tk 427.41 crore and the volume to 12.59 crore shares from Tuesday’s transaction of 11.31 crore shares worth Tk 420.40 crore.
The rise in transactions was mainly due to the profit-booking sale pressures that finally caused price fall in 181 securities across the board as demand was slack.  Subsequently, the price indices also faced a low-tide and ended the day flat.
All the three indices on Dhaka Stock Exchange (DSE) maintained upward trend straight for the fourth trading session till Tuesday, but returned to the red zone yesterday though the closing positions were marginally lower than previous closing.
The benchmark DSEX fell below 4800-point mark again and closed yesterday 4.99 points down at 4796.81. The blue-chip DS30 and the Shariah DSES were also down at 1836.24 and 1179.92 respectively.
IDLC Investment Limited attributed the fall to the investors’ lack of confidence on the overall market and liquidation by some investors ahead of Eid-ul-Azha.
Lanka Bangla Securities Limited also said that the weakness in market was due to profit taking, with traders cashing in on stocks ahead of vacation for Eid.
Large-cap stocks suffered most, with 151 of this scrip-category ended lower. The worst losing issues were Meghna Condensed Milk, Modern Dyeing, BD Auto Cars,
Monno Ceramic and Progressive Life Insurance. All the major sectors were down on the day, with the cement sector leading. Textile and telecom were also among the major lagging sectors.
Quasem Drycell, 1st Prime MF, Monno Stafflers, IBN Sina and National Tubes were the top gaining issues when only 83 companies finished higher. Bank and Engineering stocks showed healthy recovery trend.
United Air, Islami Bank, BSRM Limited, BSRM Steel and Quasem Drycell were the day’s top five mostly traded issues.
Like DSE, Chittagong Stock Exchange (CSE) closed yesterday flat when its CSCX was 5.49 points down at 8939.22. Out of the traded 246 securities, 84 closed higher, 130 lower and 32 unchanged. The daily transaction was, however, up at 91.45 lakh shares worth Tk 28.05 crore.

 

Stocks fall on sale pressure

Stock market yesterday lost the steam to increasing sale pressures while investors were keen in booking profit through selling the shares which saw constant price rise in the past four consecutive sessions, reports BSS. The daily trade value rose to Tk 427.41 crore and the volume to 12.59 crore shares from Tuesdays transaction of 11.31 crore shares worth Tk 420.40 crore. The rise in transactions was mainly due to the profit-booking sale pressures that finally caused price fall in 181 securities across the board as demand was slack. Subsequently, the price indices also faced a low-tide and ended the day flat. All the three indices on Dhaka Stock Exchange (DSE) maintained upward trend straight for the fourth trading session till Tuesday, but returned to the red zone yesterday though the closing positions were marginally lower than previous closing. The benchmark DSEX fell below 4800-point mark again and closed yesterday 4.99 points down at 4796.81. The blue-chip DS30 and the Shariah DSES were also down at 1836.24 and 1179.92 respectively. IDLC Investment Limited attributed the fall to the investors lack of confidence on the overall market and liquidation by some investors ahead of Eid-ul-Azha. Lanka Bangla Securities Limited also said that the weakness in market was due to profit taking, with traders cashing in on stocks ahead of vacation for Eid. Large-cap stocks suffered most, with 151 of this scrip-category ended lower. The worst losing issues were Meghna Condensed Milk, Modern Dyeing, BD Auto Cars, Monno Ceramic and Progressive Life Insurance. All the major sectors were down on the day, with the cement sector leading. Textile and telecom were also among the major lagging sectors. Quasem Drycell, 1st Prime MF, Monno Stafflers, IBN Sina and National Tubes were the top gaining issues when only 83 companies finished higher. Bank and Engineering stocks showed healthy recovery trend. United Air, Islami Bank, BSRM Limited, BSRM Steel and Quasem Drycell were the days top five mostly traded issues. Like DSE, Chittagong Stock Exchange (CSE) closed yesterday flat when its CSCX was 5.49 points down at 8939.22. Out of the traded 246 securities, 84 closed higher, 130 lower and 32 unchanged. The daily transaction was, however, up at 91.45 lakh shares worth Tk 28.05 crore.