Economic Reporter :
Stocks fell for the 5th consecutive session on Wednesday, with the broader index at the premier bourse suffering a big slide amid highly cautious buying against huge sell pressure.
The boarder DSEX index of Dhaka Stock Exchange (DSE) finished the day nearly 43 points down at 4238.91, with the blue-chip DS30 and the Shariah DSES followed it to close moderately at 1632.78 and 1034.68 respectively.
Chittagong Stock Exchange (CSE) also witnessed sharp fall in its major CSCX that closed the session over 88 points down at 7927.05.
“The weakness on DSE came as investors were cashing in on stocks to safeguard their position”, said Lanka Bangla Securities Limited.
Despite the huge downturn, oil stocks continued rally on strong demand by the investors who were taking long term position for higher profit booking. The market vibe for energy issues made the oil distributing companies turnover leaders with substantial trade volume.
Among the day’s top five mostly traded securities, four were from the energy sector, taking the first (Jamuna Oil), third (MJLBD), fourth (Meghna Petroleum) and fifth (UPGDL) positions. BSRM Limited took the second place in this row as a good number of investors focused on this scrips when it became over 6.0 percent cheaper than previous close.
The energy sector, however, lost over 1.0 percent in trade value and over 11.0 percent in turnover as the sector also saw profit booking selling.
All major sectors, however, declined, with bank, cement, pharmaceuticals, NBFI, ceramic, engineering and food and allied falling most. Only miscellaneous sector gained marginally on moderate level of buying. The dull trade left most of issues traded in the red area when 224 issues closed lower at DSE against 53 gaining securities. At CSE, the number of losing issues was 167 against 31 advancing scrips.
The daily transaction marked rise due to buying for repositioning. The trade volume at DSE rose significantly by around 30.0 percent to 10.04 crore shares, but the trade value rose by only 3.72 percent to Taka 356.44 crore as issues suffered loss across the board. At CSE, the trade value was Taka 27.68 crore for 1.21 crore shares.
Stocks fell for the 5th consecutive session on Wednesday, with the broader index at the premier bourse suffering a big slide amid highly cautious buying against huge sell pressure.
The boarder DSEX index of Dhaka Stock Exchange (DSE) finished the day nearly 43 points down at 4238.91, with the blue-chip DS30 and the Shariah DSES followed it to close moderately at 1632.78 and 1034.68 respectively.
Chittagong Stock Exchange (CSE) also witnessed sharp fall in its major CSCX that closed the session over 88 points down at 7927.05.
“The weakness on DSE came as investors were cashing in on stocks to safeguard their position”, said Lanka Bangla Securities Limited.
Despite the huge downturn, oil stocks continued rally on strong demand by the investors who were taking long term position for higher profit booking. The market vibe for energy issues made the oil distributing companies turnover leaders with substantial trade volume.
Among the day’s top five mostly traded securities, four were from the energy sector, taking the first (Jamuna Oil), third (MJLBD), fourth (Meghna Petroleum) and fifth (UPGDL) positions. BSRM Limited took the second place in this row as a good number of investors focused on this scrips when it became over 6.0 percent cheaper than previous close.
The energy sector, however, lost over 1.0 percent in trade value and over 11.0 percent in turnover as the sector also saw profit booking selling.
All major sectors, however, declined, with bank, cement, pharmaceuticals, NBFI, ceramic, engineering and food and allied falling most. Only miscellaneous sector gained marginally on moderate level of buying. The dull trade left most of issues traded in the red area when 224 issues closed lower at DSE against 53 gaining securities. At CSE, the number of losing issues was 167 against 31 advancing scrips.
The daily transaction marked rise due to buying for repositioning. The trade volume at DSE rose significantly by around 30.0 percent to 10.04 crore shares, but the trade value rose by only 3.72 percent to Taka 356.44 crore as issues suffered loss across the board. At CSE, the trade value was Taka 27.68 crore for 1.21 crore shares.
