DSEX, the key index of the Dhaka Stock Exchange (DSE), declined by 49.3 points and settled at around 2.5-week-low of 5,679 points on Sunday, as sellers regained control after a short-lived positive momentum in the morning — induced by waning market confidence due to the prevailing volatility.
Investors were in dull mode with the gloomy trading day and the sellers were the dictators at the expense of the buyers' bet.
Apart from the story of the key index, trade went a bit higher than the previous day by Tk 3 crore to Tk 678 crore. The traders are waiting for a buoyant market.
Meanwhile, volume increased by 3 per cent and turnover increased by 1 per cent. Only one out of 19 sectors was the gainer and 18 sectors were on the losing side.
Of the 398 scrips traded, 64 advanced, 289 declined and 44 remained unchanged at DSE.
LINDEBD topped the turnover chart. NTC was the top gainer while RUPALILIFE was the top loser.
One stock was traded at the floor price. In the block market, shares of Tk 23 crore were transacted, representing a turnover of 3.40 per cent.
The SME index, DSMEX, increased by 11.3 points and the market generated a Tk 3.6 crore turnover, a 51 per cent decrease from the previous session.
EBL Securities in its daily market review said that DSE started the week on a gloomy note, marking five consecutive sessions of decline as sellers regained control after a short-lived positive momentum in the morning, induced by waning market confidence due to the prevailing volatility.
The market saw mixed reactions as the session began with an upbeat momentum, but the indices retraced to negative as risk-averse investors' continued cautious selling approach eroded the early session optimism, it said.
According to the Royal Capital Financial Portal, BRACBANK and SQURPHARMA contributed the most to the gains and losses of the DSEX on the day, and the bear took over the market control at 1pm and onwards.
The Chittagong Stock Exchange (CSE) also settled on red terrain on Sunday, with the selected indices, CSCX, and All Share Price Index, CASPI, losing 88.4 and 141.1 points, respectively.
On September 1, the Bangladesh Securities and Exchange Commission (BSEC) formed a five-member committee to investigate irregularities and corruption of the past.
In the first phase, the committee will investigate the alleged irregularities related to the issuance of two bonds by Beximco. The bonds are Beximco Green Sukuk Al Istisna and IFIC Guaranteed Sreepur Township Green Zero Coupon Bond.
The committee will also investigate the issuance and selection of Bashundhara Group's ABG Ltd as the strategic partner of the CSE.
The committee, led by Zia Uddin Ahmed, chairman of Terra Resources International Investment & Marketing Services Inc, USA, has 60 days to submit the investigation report.
Market insiders said that stock investors are observing this move as a long-term positive one for the capital market.
