DSEX loses steam on selling pressure

The Dhaka Stock Exchange witnessed selling pressure in the past week as the benchmark DSEX index lost more than 90 points.

Soaring inflation and dollar price against the local currency might put damper on investor sentiment, dealers say.

In the past week ended on Thursday, the benchmark DSEX index was down 26 points or 0.40 per cent to close at 6,565, Added from 105 points lost in the previous two sessions.

On the other hand, Ceramics, Services & Real Estate and Textile sectors observed price appreciation while Paper & Printing, Travel & Leisure and General Insurance sectors faced correction.

However, Average turnover increased by 130.33 per cent to Tk 1080 Crore. Pharmaceuticals sector dominated the turnover chart covering 13.26 Per cent of total turnover.

Economic policies to be determined by the regulatory bodies in the coming weeks will be pivotal in influencing market movement, said EBL Securities in a note.

The lower circuit breaker limit has been expanded to 5 per cent from the 2 per cent imposed earlier, which can mitigate the liquidity crisis of the market to some extent, Market insider added.

Last week Investors were mostly active in Pharmaceuticals & Chemicals (12.0 per cent), Miscellaneous (11.7 per cent) and Textile (11.1 per cent) sectors.

Most of the sectors witnessed negative performances out of which Ceramic (11.1 per cent), Services (1.7 per cent) and Textile (0.9 per cent) witnessed the highest price appreciations while Paper & Printing (-6.5 Per cent), Travel & Leisure (-4.9 Per cent) and Cement (-3.4 Per cent) witnessed the most price corrections.

The week’s top gainers included Shinepukur Ceramics Ltd, ACI Formulations Ltd, Bangas Ltd, Bangladesh Finance, CVO Petrochemical Refinery, Salvo Chemical Industry, National Feed Mill, Eastern Housing, JMI Hospital Requisite Manufacturing and Sonargaon Textiles.

The week’s top losser included Gemini Sea Food Ltd, City Bank, One Bank, Bangladesh National Insurance Company, Pubali Bank, Tamijuddin Textile Mills, Paper Processing and Packaging, Savar Refractories, Mozaffar Hossain Spinning Mills and Pragati Insurance.