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DSE snaps 8-day winning trend

Staff Correspondent
13 Sep 2021 00:00:00 | Update: 13 Sep 2021 05:00:12
DSE snaps 8-day winning trend

After rising for eight consecutive sessions, DSEX, the benchmark index at the Dhaka Stock Exchange, fell 56 points to settle at 7,202 points on Sunday.

At the same time, the blue chip index – DS30 – fell 9 points and settled at 2,638 points, while the Shariah index – DSES – declined 16 points and settled at 1575 points.

Although most of the shares witnessed price correction at the bourse on the day, the daily turnover increased by Tk 11.82 crore or 0.44 per cent and stood at Tk 2,708 crore.

Pharmaceutical sector dominated the turnover chart covering 12.12 per cent of total turnover.

Though the index started strong, the investors later opted for profit booking particularly in certain large cap stocks such as Square Pharma, LafargeHolcim Bangladesh, Beximco Pharma and BSCCL, EBL Securities said in its market commentary.

The life insurance sector gained on the back of the news of the recent regulatory initiative to make all the industries and factories adopt group insurance, it added.

Meanwhile, the Bangladesh Securities and Exchange Commission (BSEC) chairman has recently reinforced his optimism that the market would be able to sustain its upward trend, which also impacted the capital market.

UCB Stock Brokerage, in its market commentary, said that among major sectors, Life Insurance, Miscellaneous and Food & Allied sectors experienced price appreciation, while Ceramics, Travel & Leisure and Services & Real Estate sectors faced correction.

Out of the 376 issues traded, 83 advanced, 261 declined, and 32 remained unchanged on the Dhaka bourse on the day.

On the sectoral front, Pharma-Chemical (12.12 per cent), Engineering (10.95 per cent), and Textile (10.37 per cent) issues were in most demand on the day.

Most of the sectors observed declining performance, out of which Life Insurance (3.8 per cent), Miscellaneous (1.0 per cent), and Food & Allied (0.5 per cent) have exerted the most returns while Ceramic (-4.4 per cent), Travel (-4.1 per cent), and Paper (-3.6 per cent) observed corrections on the bourse.

Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also ended in downtrend. The selected indices (CSCX) and All Share Price Index (CASPI) declined by 84.4 points and 146.8 points respectively.

The turnover value stood at Tk 114 crore at the CSE. Out of the 330 issues traded, 96 advanced, 214 declined, and 20 remained unchanged on the bourse.

The key index of the Dhaka Stock Exchange – DSEX – on Thursday crossed the 7,200-mark and settled at 7,258 points, the highest ever since the index’s inception in 2013.