Stocks post nosedive...

Dhaka, Saturday   05 December 2020

Stocks post nosedive

 Economy Desk

 Published: 08:08 PM, 5 October 2020   Updated: 08:10 PM, 5 October 2020

File Photo

File Photo

Country’s both the bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) today closed trade registering sharp plunge for quick profit booking sale by the risk-averse investors.

DSE started session with profit booking sell pressure and continued till the end without any sign of reversal.

Lack of buoyancy among the investors fueled the selling pressure in the market which contributed to the big fall in indices. The bargain hunters, however, took positions in engineering and general insurance stocks.

The broad index, DSEX settled at 4946.67 points on Monday with a big loss of 51.32 points or 1.02 percent.

Besides, two selective indices, Blue Chip index, DSE30 and Shariah index, DSES also went down sharply by 22.24 points and 10.27 points to settle at 1685.24 points and 1112.77 points respectively.

On the DSE trading floor, a total number of 196,991 trades were executed in today’s trading session with a trading volume of 366.93 million securities.

DSE’s turnover, a crucial indicator of the market, has increased by 8.5 percent over last session and it stood at Taka 9.65 billion from Taka 8.89 billion in the previous session.

Losers took lead over gainers as out of 357 issues traded, 65 securities gained price while 263 declined and 29 remained unchanged.

The market-cap of DSE decreased to Taka 4,036 billion which was Taka 4,045 billion in the previous session.

General insurance sector dominated the turnover board with 33 percent turnover and all the stocks in top ten gainer lists were from general insurance stocks, according to a market analyst, International Leasing Securities Limited (ILSL).

It said major sectors witnessed correction today. Among the major sectors-life insurance (-2.4%), mutual fund (-2.4%), and textile (-2.0%) sectors witnessed price correction while engineering (4.1%) and general insurance (2.7%) sectors achieved price appreciation.

The investors’ activity was mostly centered on general insurance (33.3%), engineering (9.9%) and financial institution (9.7%) sectors while Walton Hi-Tech (5.3%), Beximco Pharma (3.3%) and Beximco(3.0%)led the scrip wise turnover board, added ILSL.

Walton Hi-Tech topped the turnover chart followed by Beximco Pharma, Beximco Limited, Republic Insurance, Express Insurance, Sandhani Life Insurance, Asia Pacific General Insurance, Lankabangla Finance, Rupali Insurance and Brac Bank.

The top 10 gainers were Northern Insurance, Islami Insurance, Asia Insurance, Continental Insurance, Express Insurance, Phoenix Insurance, Republic Insurance, Peoples Insurance and BNICL.

The top ten losers were Tung Hi Knitting, Golden Sun, Tallu Spinning, KBPP WBIL, CNA Textile, Sunlife Insurance, BD Thai, Dhaka Dying, Prime First ICBA and EBL First Mutual First.

On the other hand, port city bourse, Chittagong Stock Exchange (CSE) also closed trade in red from the flat session of previous day.

Selective categories index, CSCX and all shares price index, CASPI declined by 77.13 points and 138.44 points to stand at 8501.77 points and 14146.83 points respectively.

At CSE, a total of 12,342,126 share and mutual funds of 280 companies were traded, of which 62 issues advanced while 190 declined and 28 issues remained unchanged.

Source: BSS