Stocks begin week in negative amid shaky participation
The countrys twin bourses--Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) -- started the week in negative amid shaky participation with the reduced time in the first trading session in the holy month of Ramzan yesterday.
The bourses cut trading time by one hour during the holy month. DSEX, the prime index of the Dhaka Stock Exchange (DSEX) ended at 4511.47 on the day. The other two indices also ended in negative zone.
The DS30, comprising blue chips went down by 11.57 points or 0.66 per cent to close at 1731.04 points and the DSES, Shariah index, also decreased by 1.43 points or 0.12 per cent to close at 1103.09 points.
Out of traded 318 issues, 148 closed lower when 120 ended up and 50 remained unchanged.
The market exhibited slight volatility during the session and the activity from the participants plunged as
depicted by 24 per cent drop in the daily turnover from the earlier session mainly due to the curtailed trading hour, International Leasing Securities Limited, a stock brokerage said.
High sales pressure in issues from telecommunication, life insurance and cement sector mostly penalised the market despite the price acceleration in issues form fuel and power sector, which attracted most of the investors attention in the days session, the brokerage added.
Market continued consolidation in a sideways movement amid the release of some insipid economic data. Among the major economic updates, the disbursement of industrial term loans dropped by more than 28 percent in the third quarter (Q3) of the outgoing 2014-15 fiscal year mainly due to political turmoil (during this period), said Lanka Bangla Securities Limited.
The days top 10 losers at the DSE were National Life Insurance, Shyampur Sugar Mills, Northern Jute Manufacturing, Continental Insurance, 7th ICB Mutual Fund, Agrani Insurance, 5th ICB Mutual Fund, Gq Ball Pen, Progressive Life Insurance, and United Airways.
Top five gainers at the DSE were Prime Finance First Mutual Fund, Hakkani Pulp Paper, Khulna Printing Packaging, Golden Harvest Agro Industries, and AFC Agro Biotech.
The top five turnover leaders at the DSE were Khulna Power Company, RAK Ceramics, Far Chemical Industries, United Air, and Summit Alliance Port.
The CSE key index, CASPI lost 8.55 points to reach 13884.98 at close on Sunday. Of the 228 issues traded, 96 advanced, 101 suffered loss and 31 remained unchanged.
The value of the traded issues at the CSE was Tk 24.73 crore on the day.
