DSE ends in flat, CSE in downbeat
Published: 06:51 PM, 21 October 2020
Country’s prime bourse, Dhaka Stock Exchange (DSE) today closed trading in flat from winning streak as investors approached wait and see stance.
The market passed a volatile day as investors’ oscillated between optimism and watchfulness although it added 78 points in last four consecutive sessions.
It started with buoyancy as bargain hunters continued their buying appetite, especially on the general insurance stocks.
Some other investors, however, rebalanced their investment in financial institution, cement, ceramic, mutual fund, life insurance and telecom sectors on the ongoing year-end and quarter-end corporate declarations.
The broad index, DSEX settled at 4916.85 points on Wednesday with a slight loss of 0.40 points or 0.008 percent.
Besides, two selective indices, Blue Chip index, DSE30 went up by 0.68 points while Shariah index, DSES declined by 2.35 points to settle at 1695.07 points and 1116.74 points respectively.
Trading activities has plunged by 7 percent over last session as some investors remained in sideline to observe the market movement.
On the DSE trading floor, a total number of 173,459 trades were executed in today’s trading session with a trading volume of 294.83 million securities.
DSE’s turnover, a crucial indicator of the market, stood at Taka 8.55 billion from Taka 9.15 billion in the previous session.
Losers took lead over gainers as out of 354 issues traded, 109 securities gained price while 178 declined and 67 remained unchanged.
The market-cap of DSE decreased to Taka 3,980 billion from Taka 3,981 billion of the previous session.
The general insurance sector which belongs only 2.6 percent market share captured around 46 percent of today’s total market turnover were backed by the positive growth in their latest quarter earnings, according to a market analyst, International Leasing Securities Limited (ILSL).
It said major sectors witnessed correction today. Among the major sectors – financial institution (-1.5%), cement (-0.9%) and mutual fund (-0.8%) sectors witnessed price correction while general insurance (5.8%), IT (2.0%) and food (0.9%) sectors achieved price appreciation.
The investors’ activity was mostly centered on general insurance (46.3%), pharma (8.9%) and engineering (7.3%) sectors while Continental Insurance (4.5%), Asia Pacific Insurance (4.3%) and Republic Insurance (3.3%) led the scrip wise turnover board, added ILSL.
Continental Insurance topped the turnover chart followed by Asia Pacific General Insurance, Republic Insurance, Rupali Insurance, Beximco Pharma, Provati Insurance, Express Insurance, Beximco Limited, Sonar Bangla Insurance and Asia Insurance.
The top 10 gainers were Eastern Insurance, Express Insurance, Mercantile Insurance, Prime Insurance, United Insurance, Provati Insurance, Asia Insurance, Republic Insurance, Agrani Insurance and Agni System.
The top ten losers were Bangladesh Industrial Finance, Meghna Petroleum, International Leasing, Sonali Ansh, Usmania Glass, Emerald Oil, BD Lamps, Khan Brothers PP, Fu-Wang Ceramic and Dulamia Cotton.
On the other hand, port city bourse, Chittagong Stock Exchange (CSE) closed trading in red from the winning streak of previous four sessions.
Selective categories index, CSCX and all shares price index, CASPI decreased by 15.67 points and 26.89 points to stand at 8436.03 points and 14034.27 points respectively.
At CSE, a total of 11,628,566 share and mutual funds of 265 companies were traded, of which 81 issues advanced while 134 declined and 50 issues remained unchanged.