DSEX falls far below 7,000-mark

Dhaka stocks declined on Tuesday with the benchmark DSEX index falling far below the 7,000-mark.

The market kicked off on a positive note in the morning led by the textile sector and struggled to maintain the momentum before the final hour when selling pressure came in.

The DSEX fell 43 points or 0.62 per cent to settle at 6,954, extending its losing streak for the third straight session.

The Shariah-based DSES index was down about 6 points or 0.42 per cent up to 1,468 and the blue-chip DS30 index fell 19 points or 0.75 per cent to 2,605.

All the sectors closed in red led by cement, food and allied, tannery, general insurance, paper and printing, ceramics, bank and NBFIs.

However, telecom sectors closed in the positive terrain driven by heavyweight Grameenphone surging about 3 per cent.

Turnover increased by 1.55 per cent to Tk 1,295 crore due to the strong sale off. The textile sector dominated the turnover chart making up over 26.1 per cent of the total turnover. Out of the 376 issues traded, 147 advanced, 201 declined, and 28 remained unchanged.

The worst losers included Safko Spinnings Mills, Mithun Knitting, Maksons Spinning Mills, Bangladesh National Insurance Company, Orion Pharmaceuticals, and The Peninsula Chittagong.

Prime Textile skyrocketed over 22 per cent following its corporate declaration as there was no price limit. Evince Textiles, Far Chemicals, Ring Shine and Delta Spinning increased more than 9 per cent.

Beximco Ltd was the most traded stock, followed by IFIC Bank, ALif Manufacturing Company, Orion Pharmaceuticals, Malek Spinning and Beximco Pharmaceuticals.

The port city bourse, CSE, also settled in red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) settled down at 83.5 points and 134.9 points respectively.