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The Financial Express

DSEX falls below 5,000-mark on selling binge

DSE daily turnover tumbles 25pc


| Updated: September 22, 2020 19:40:30


DSEX falls below 5,000-mark on selling binge

Stocks extended the losing streak for the fourth straight session Tuesday, with the key index of the major bourse dipping below 5,000-mark, as cautious investors preferred to book quick-profit on major sectors issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4970, after shedding 42.01 points or 0.83 per cent over the previous day.

DSEX lost more than 146 points or 2.85 per cent in the past four consecutive sessions after a big jump in recent weeks.

DSEX surged a cumulative 1,144 points or 29 per cent in the past 13 consecutive weeks. The DSE market-cap also added Tk 752 billion during the period under review.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 12.61 points to finish at 1,714 and the DSE Shariah Index slumped 11.37 points to close at 1,126.

Turnover, a crucial indicator of the market, also fell below Tk 8.0 billion-mark again and amounted to Tk 7.29 billion, which was 25 per cent lower than the previous day’s turnover of Tk 9.77 billion.

Market analysts said the cautious investors continued to book profit on majors sectors’ issues which saw substantial gain the past few weeks.

The news of Walton Hi-tech Industries trading from Wednesday also created some sell pressure in the market as investors freed some funds to take position on the newly listed stock, said a leading broker.

Losers outnumbered the gainers as out of 356 issues traded, 252 closed lower, 75 ended higher while 29 issues remained unchanged on the DSE trading floor.

A total number of 164,977 trades were executed in the day’s trading session with a trading volume of 301.17 million shares and mutual fund units.

The market-cap on the premier bourse also fell to Tk 3,769 billion on Tuesday, from Tk 3,795 billion in the previous session.

Beximco Pharma topped the turnover chart with shares worth Tk 305 million changing hands, closely followed by Brac Bank, Square Pharma, Beximco and Rupali Insurance.

The insurance sector dominated the gainer chart further as six out of top 10 gainers were insurance companies.

Nitol Insurance was the best performer, posting a gain of 9.86 per cent while BD Welding was the worst loser, losing 9.48 per cent.

The Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI)—losing 150 points to close at 14,169 and the Selective Categories Index – CSCX shedding 83 points to close at 8,514.

Of the issues traded, 200 declined, 53 advanced and 28 remained unchanged on the CSE.

The port city bourse traded 11.34 million shares and mutual fund units with turnover value of Tk 172 million.

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