Stocks plunge further despite higher activities

Despite higher activities, stocks plunged further yesterday when the broader price index of the prime bourse broke the 4400 resistance level, reports BSS.
The DSEX of Dhaka Stock Exchange (DSE) closed the day flat in red at 4391.42, with the blue-chip DS30 and Shariah DSES following it to finish at 1672.86 and 1062.93 respectively.
The major CSCX index of Chittagong Stock Exchange (CSE) also ended in red at 8214.51, losing over 10 points on falling share prices.
The daily transaction at DSE rose significantly on the day. The trade value surged by 34.61 per cent to Tk 425.80 crore and volume jumped by nearly 42 per cent to 11.82 crore shares. At CSE, the trade value increased to Tk 27.27 crore for 1.08 crore shares.
The price indices at the two stock exchanges fell because of continuing price fall. At DSE, 146 securities incurred loss against 124 gaining issues. Similarly, 117 scrips closed lower when 95 gained marginally at close.
Market analyst attributed the fall to the speculation of changes in the coming budget. Lanka Bangla Securities Limited said that the modest drop on the day came on the heels of vigilant nature of market players when anticipation on possible changes in upcoming budget for fiscal 2016-17 grabbed the investors’ attention.
The large-cap securities of cement, fuel and power and pharmaceutical sectors suffered major loss when bank, food and allied and textile sectors gained moderately.
The major losing issues were Progressive Life Insurance, IFIC 1st MF, Padma Oil, Doreen Power and HFL. The major advancing securities included BD Lamps, ICB 1st NRB, Libra Infusion, FEKDIL and Eastern Lubricant.
Keya Cosmetic topped the turnover leaders followed by MJLBD, ACI, Doreen Power and BSCCL.

Stocks plunge further despite higher activities

Despite higher activities, stocks plunged further yesterday when the broader price index of the prime bourse broke the 4400 resistance level, reports BSS. The DSEX of Dhaka Stock Exchange (DSE) closed the day flat in red at 4391.42, with the blue-chip DS30 and Shariah DSES following it to finish at 1672.86 and 1062.93 respectively. The major CSCX index of Chittagong Stock Exchange (CSE) also ended in red at 8214.51, losing over 10 points on falling share prices. The daily transaction at DSE rose significantly on the day. The trade value surged by 34.61 per cent to Tk 425.80 crore and volume jumped by nearly 42 per cent to 11.82 crore shares. At CSE, the trade value increased to Tk 27.27 crore for 1.08 crore shares. The price indices at the two stock exchanges fell because of continuing price fall. At DSE, 146 securities incurred loss against 124 gaining issues. Similarly, 117 scrips closed lower when 95 gained marginally at close. Market analyst attributed the fall to the speculation of changes in the coming budget. Lanka Bangla Securities Limited said that the modest drop on the day came on the heels of vigilant nature of market players when anticipation on possible changes in upcoming budget for fiscal 2016-17 grabbed the investors attention. The large-cap securities of cement, fuel and power and pharmaceutical sectors suffered major loss when bank, food and allied and textile sectors gained moderately. The major losing issues were Progressive Life Insurance, IFIC 1st MF, Padma Oil, Doreen Power and HFL. The major advancing securities included BD Lamps, ICB 1st NRB, Libra Infusion, FEKDIL and Eastern Lubricant. Keya Cosmetic topped the turnover leaders followed by MJLBD, ACI, Doreen Power and BSCCL.