Dhaka, Bangladesh (BBN) - Despite rising trend in the beginning, stocks at both the bourses - Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) – entered the negative territory posting moderate losses on Sunday, the opening day of the week.
Market analysts said that many investors booked profit to stay safe rather than fresh investment as three writs against SEC’s directive on sponsor-directors minimum share holding still pending.
The DSE shot up almost 75 points within 45 minutes upon resumption of day’s trading. After that it declined steadily and finally ended 74 points lower.
The DGEN, the benchmark general index of the Dhaka Stock Exchange (DSE), slipped 74.81 points or 1.47 per cent to close at 5,001.81. Earlier on Thursday the DGEN gained 174 points.
Prices of most shares declined as out of 265 issues traded, 210 declined, 35 advanced and 20 remained unchanged.
Turnover value stood at BDT 3.90 billion, down by 7.36 percent compared to BDT 4.21 billion in the previous session.
A total of 68.70 million shares changed hands on the day against 77.91 million in the previous session. The trade deals also decreased to 95,114 against Thursday’s 102,095.
The total market capitalization of the DSE stood at BDT 2,613.21 billion against BDT 2,643.47 billion in the previous session.
All the sectors closed lower except cement. The cement sector gained 1.18 per cent.
Among the major sectors, fuel and power lost 2.14 percent, followed by pharmaceuticals 1.74 percent. Non-banking financial institutions (NBFIs), telecommunications and banks lost 1.67 percent, 1.63 percent and 0.98 percent respectively.
LankaBangla Finance continued to top the turnover chart with shares worth BDT 247.54 million changing hands.
The other turnover leaders were Jamuna Oil, Confidence Cement, Beximco Limited, Beximco Pharma, Grameenphone, City Bank, Meghna Petroleum, Summit Power and MI Cement.
Meghna Cement was the day’s highest gainer posting a rise of 9.69 percent.
It was followed by National Tea, Heidelberg Cement, Gemini Sea Food, BD Welding, Eighth ICB, Pragati Life Insurance, Renwick Jajneswar, Sub 25 percent Convertible Bonds of BRAC Bank and BRAC Bank.
The day’s worst losers included Standard Bank, Asia Insurance, GQ Ball Pen, Paramount Insurance, Phoenix Finance, LR Global Mutual Fund, Miracle Industries, International Leasing and Financial Services, Legacy Footwear and FAS Finance.
Similarly, the CSE key index, CSCX, closed at 9429.72 losing 159.32 points. The port city bourse gained 319.76 points on Thursday though it lost 331.73 points on Wednesday.
At the CSE, only 25 gained, 125 suffered losses and 4 remained unchanged at the end of the day’s trading.
The CSE turnover came down to BDT 469.70 million on Sunday against BDT 616.90 million and BDT 492 million recorded respectively on Thursday and Wednesday.
BBN/SSR/AD-14May12-7:50 am (BST)
