Stocks plunge amid heavy selling of large-cap

Heavy selling of large-cap securities yesterday broke the gaining streak on the country’s twin stock exchanges when the benchmark indices were considerably down, reports BSS.
DSEX - the broader index of Dhaka Stock Exchange (DSE) - experienced a steep drop within the first 30 minutes of trading, amid heavy selling of large-cap securities of most active sectors like engineering, power, telecommunication and pharmaceuticals.
Market analysts said the fall of the day was the result of the short-run rally in the previous session, which eventually prompted many to go for profit-booking or repositioning.
Amid the sell pressure, DSEX closed the day over 46 points down at 4608.04 while the blue-chip DS30 and the Shariah DSES dipped to 1756.82 and 1110.52 accordingly.
Market activities were also down as buyers were cautious in making fresh commitment. Resultantly, the majority of the traded issues closed lower. Out of the day’s 313 issues traded, only 79 gained when 199 incurred loss and 35 remained static.
Engineering, food and allied and textile were among the major advancing sector, with Hakkani Pulp, GQ Ball Pen, Apex Spinning, Legacy Footwear and Federal Insurance being the top five advancing securities.
Far East Knitting, IFIC1stMF, Quasem Drycell, Premier Cement and Meghna Cement were the major losing scrips when the major losing sectors were cement, bank, fuel and power, NBFI and telecom.
The daily trade value was over 18.0 per cent down to Tk 456.50 crore and the volume was 18.13 per cent down at 11.25 crore shares.
Quasem Drycell topped the turnover list followed by BSRM Steel, Aftab Auto, Saif Power, GP and Squire Pharma.
Chittagong Stock Exchange (CSE) also closed yesterday in red, with its major CSCX finishing the day over 105 points down at 8558.16.
Most of the issues traded closed lower on the last trading day of the week as the sellers were active for profit-booking. Out of the day’s 248 issues traded, 63 finished higher against 153 losing and 32 static issues.
The daily trade value fell to Tk 32.44 crore and the volume decreased to 89.84 lakh shares.

Stocks plunge amid heavy selling of large-cap

Heavy selling of large-cap securities yesterday broke the gaining streak on the countrys twin stock exchanges when the benchmark indices were considerably down, reports BSS. DSEX - the broader index of Dhaka Stock Exchange (DSE) - experienced a steep drop within the first 30 minutes of trading, amid heavy selling of large-cap securities of most active sectors like engineering, power, telecommunication and pharmaceuticals. Market analysts said the fall of the day was the result of the short-run rally in the previous session, which eventually prompted many to go for profit-booking or repositioning. Amid the sell pressure, DSEX closed the day over 46 points down at 4608.04 while the blue-chip DS30 and the Shariah DSES dipped to 1756.82 and 1110.52 accordingly. Market activities were also down as buyers were cautious in making fresh commitment. Resultantly, the majority of the traded issues closed lower. Out of the days 313 issues traded, only 79 gained when 199 incurred loss and 35 remained static. Engineering, food and allied and textile were among the major advancing sector, with Hakkani Pulp, GQ Ball Pen, Apex Spinning, Legacy Footwear and Federal Insurance being the top five advancing securities. Far East Knitting, IFIC1stMF, Quasem Drycell, Premier Cement and Meghna Cement were the major losing scrips when the major losing sectors were cement, bank, fuel and power, NBFI and telecom. The daily trade value was over 18.0 per cent down to Tk 456.50 crore and the volume was 18.13 per cent down at 11.25 crore shares. Quasem Drycell topped the turnover list followed by BSRM Steel, Aftab Auto, Saif Power, GP and Squire Pharma. Chittagong Stock Exchange (CSE) also closed yesterday in red, with its major CSCX finishing the day over 105 points down at 8558.16. Most of the issues traded closed lower on the last trading day of the week as the sellers were active for profit-booking. Out of the days 248 issues traded, 63 finished higher against 153 losing and 32 static issues. The daily trade value fell to Tk 32.44 crore and the volume decreased to 89.84 lakh shares.