The continuous fall in share prices extended to the 6th trading session on Tuesday with benchmark DSEX index of the country’s prime bourse ending the day flat at 4376.52.
The broad-based index of Dhaka Stock Exchange (DSE) lost over 100 points in the ceaseless slide during the past five trading sessions, but the negative trend became a bit slower on Tuesday on comparatively increased market activities.
Apart from the broad-based index, two specialist indices – blue-chip DS30 and Shariah DSES eased up to positive zone to finish the day marginally higher at 1606.54 and 994.14 respectively.
The trade value increased from its lowest position of Taka 191.5 crore on Monday to Taka 218.78 crore on Tuesday as some investors went for lucrative price hunts and good positioning. The volume, however, declined to 521.14 crore shares from the previous day’s 534.62 crore for cautious and selective buying.
Far Cement – a new issue of cement sector took the lead in trade volume and value while registering phenomenal 426 percent rise on debut trading. The other gaining issues were from pharmaceuticals, tannery, banking and energy sectors.
The market, however, saw more losing issues than the gaining ones as 105 issues gained as against 135 issues losing while 49 were static.
Analysts saw the negative onslaught on the market as a setback from the recent correction in share prices that brought the benchmark index down from 4,800 points, hurting investors’ purchasing power and making many of them unable to inject fresh fund into the stocks.
On the economic front, news about dropped in remittance inflow made some investors cautious about making fresh investment. Media reports on declining credit growth and increasing investments in savings instruments also influenced investors to take ‘wait and watch’ strategy for making fresh portfolio investment.
