Stocks returned to the red on Tuesday, after a single-day break, as many investors freed funds to participate in the upcoming IPOs while some were waiting for the debut of the largest ever issue Robi.
DSEX, the key index of the Dhaka Stock Exchange (DSE), went down by 16.71 points or 0.32 per cent to settle at below the 5,100-mark to 5,098, after gaining more than 40 points in the previous day.
Market operators said as many investors freed funds to participate in the upcoming IPOs while some were waiting for debut trading of the largest ever issue Robi.
Some investors also exhibited a tendency towards profit-booking amidst the fear of a second wave of the coronavirus pandemic, they said.
Robi Axiata, the largest ever IPO in Bangladesh’s capital market history is set to hit the trading floor on Thursday, so the market saw some selling pressure, said a merchant banker.
He noted that the IPO subscription of Mir Akther Hossain will also begin Thursday and the investors freed funds to participate in the upcoming IPO bonanza.
However, bargain hunters investors took position on sector-wise issues amid year-end dividend expectations, he said.
Two other indices also edged lower. The DS30 index, comprising blue chips, lost 5.69 points to finish at 1,812 and the DSE Shariah Index shed 4.91 points to close at 1,177.
Turnover, a crucial indicator of the market, fell to Tk 9.75 billion, which was 14.25 per cent lower than the previous day’s one month highest turnover of Tk 11.37 billion.
Losers took a strong lead over the gainers, as out of 357 issues traded, 185 ended lower, 84 higher and 88 issues remained unchanged on the DSE trading floor.
A total number of 174,421 trades were executed in the day’s trading session with a trading volume of 290.19 million shares and mutual fund units.
The DSE market–cap also slumped to Tk 4,130 billion on Tuesday, from Tk 4,150 billion in the previous day.
Beximco continued to dominate the turnover chart with 23.44 million shares worth Tk 904 million changing hands, followed by Beximco Pharma, Republic Insurance, LafargeHolcim, and Fortune Shoes.
The newly listed Crystal Insurance was the day’s best performer for the second straight session, posting a gain of the highest allowable price level of 50 per cent while First Finance was the worst loser, losing 7.93 per cent.
The Chittagong Stock Exchange (CSE) also ended lower with its All Shares Price Index (CASPI)—losing 84 points to close at 14,654 while the Selective Categories Index – CSCX shedding 49 points to close at 8,833.
Of the issues traded, 146 declined, 66 advanced and 50 remained unchanged on the CSE.
The port city bourse traded 15.02 million shares and mutual fund units with a turnover value of more than Tk 478 million.
