DSEX falls slightly for second day in a row

The Dhaka Stock Exchange (DSE) has witnessed corrections for the second consecutive day as the shaky investors preferred to book profit on quick-gaining issue.

DSEX, the benchmark index of DSE, edged down after observing days of intense volatility and settled at 6,760.61 points, after losing 11.22 points or 0.16 per cent on Thursday, the last trading session of the week.

Market insiders said that the investors went on a selling frenzy across all the major sectors, which triggered the consecutive market correction.

The scenario appeared as panic spread among the investors due to media reports that the Bangladesh Bank, as a move to scrutinize the usage of stimulus funds, asked commercial banks to submit stock market investments details on daily basis.

EBL Securities, in its market commentary, said the total turnover declined by 10 per cent and stood at Tk 2,218 crore, which was still above the satisfactory mark of Tk 2,000 crore.

On the sectoral front, bank (14.75 per cent), textile (13.59 per cent), and general insurance (13.35 per cent) sectoral issues were the most traded stocks on the day’s trading board, it added.

The bank sector dominated the turnover chart covering 14.75 per cent of total turnover.

Most of the sectors observed waning performance, out of which paper (-1.1 per cent), bank (-1.0 per cent), and fuel & power (-0.7 per cent) observed corrections while general insurance (2.8), travel (1.7 per cent), and cement (1.6 per cent) exerted the most returns on the bourse.

Out of the 376 issues traded, 156 advanced, 191 declined, and 29 remained unchanged.

Beximco topped on the turnover list with shares worth Tk 155 crore changing hands.

Other turnover leaders on Thursday were LafargeHolcim Bangladesh, LankaBangla Finance, IFIC Bank and City General Insurance.

South Bangla Agriculture & Commerce Bank was the best gainer of the day, posting a gain of 10 per cent, while National Housing Finance & Investment was the top loser, dipping 4.86 per cent.

Apart from that, the blue chips index - DS30 - fell 3.28 points to close at 2,423 and the Shariah Index – DSES - dropped 4.92 points to close at 1,461.

The port city bourse, CSE, also settled in red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) declined by 23.2 points and 39.1 points respectively.