Stocks plunge amid heavy sell pressure

The country’s twin bourses Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) witnessed another downbeat session yesterday amid heavy sell pressure.
    Investors’ confidence plunged further as the market has crossed its support level, 4500 points psychological threshold in the broad-based index of the Dhaka bourse, DSEX on Tuesday, said International Leasing Securities Limited.
The daily trade volume and value, however, rose significantly at stock market yesterday when a good number of investors chose to buy the securities that already became cheaper on falling prices, reports BSS.
At Dhaka Stock Exchange (DSE), some 15 crore shares changed hands for Tk 578 crore, which was considerably higher than Tuesday’s 11.95 crore shares of Tk 440 crore.
Similarly, the daily trade value at Chittagong Stock Exchange (CSE) was Tk 35.70 crore for 1.19 crore shares against 89.52 lakh shares valued at Tk 28.12 crore, traded on the previous day.
Market analysts said the transaction rose when buyers went for booking cheaper shares to make profit in future trade. On DSE, 168 securities closed the day lower against 103 gaining issues when the number of losing scrips on CSE was only 68 against 136 gaining scrips.
The higher number of losing issues caused further loss to price indices on both DSE and CSE. The broader DSEX index of DSE finished the day 21.86 points lower at 4462.17, with the blue-chip DS30 and the Shariah DSES closing marginally down at 1713.28 and 1083.40 accordingly. On CSE, the broader CSCX index lost 43.22 points to close at 8369.04.
Like previous sessions, large-cap scrips were under heavy selling pressure that resulted in 147 securities out of 266 traded issues in this category closing lower. Newly listed issues and mutual funds struggled to hold some edge on the market.
Non-banking financial institutions posted moderate gains amidst falling share price, taking the first six positions among the day’s top 10 advancing securities. Conversely, companies from engineering, insurance, textile and life insurance were among the session’s top 10 lagging issues.
The day’s major gainers were BD Finance, ILFSL, FAS Finance, First Finance and Fareast Finance. The major losers included Singer Bangladesh, United Insurance, Sonargaon Textile, Padma Life and CMC Kamal.
Orion Pharma, Lanka Bangla, Singer Bangladesh, GP and Summit Power were among the day’s most liquid securities.

Stocks plunge amid heavy sell pressure

The countrys twin bourses Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) witnessed another downbeat session yesterday amid heavy sell pressure. Investors confidence plunged further as the market has crossed its support level, 4500 points psychological threshold in the broad-based index of the Dhaka bourse, DSEX on Tuesday, said International Leasing Securities Limited. The daily trade volume and value, however, rose significantly at stock market yesterday when a good number of investors chose to buy the securities that already became cheaper on falling prices, reports BSS. At Dhaka Stock Exchange (DSE), some 15 crore shares changed hands for Tk 578 crore, which was considerably higher than Tuesdays 11.95 crore shares of Tk 440 crore. Similarly, the daily trade value at Chittagong Stock Exchange (CSE) was Tk 35.70 crore for 1.19 crore shares against 89.52 lakh shares valued at Tk 28.12 crore, traded on the previous day. Market analysts said the transaction rose when buyers went for booking cheaper shares to make profit in future trade. On DSE, 168 securities closed the day lower against 103 gaining issues when the number of losing scrips on CSE was only 68 against 136 gaining scrips. The higher number of losing issues caused further loss to price indices on both DSE and CSE. The broader DSEX index of DSE finished the day 21.86 points lower at 4462.17, with the blue-chip DS30 and the Shariah DSES closing marginally down at 1713.28 and 1083.40 accordingly. On CSE, the broader CSCX index lost 43.22 points to close at 8369.04. Like previous sessions, large-cap scrips were under heavy selling pressure that resulted in 147 securities out of 266 traded issues in this category closing lower. Newly listed issues and mutual funds struggled to hold some edge on the market. Non-banking financial institutions posted moderate gains amidst falling share price, taking the first six positions among the days top 10 advancing securities. Conversely, companies from engineering, insurance, textile and life insurance were among the sessions top 10 lagging issues. The days major gainers were BD Finance, ILFSL, FAS Finance, First Finance and Fareast Finance. The major losers included Singer Bangladesh, United Insurance, Sonargaon Textile, Padma Life and CMC Kamal. Orion Pharma, Lanka Bangla, Singer Bangladesh, GP and Summit Power were among the days most liquid securities.