DHAKA, Aug 25, 2019 (BSS) – Country’s both the bourses ended today with price correction due to the fall of some large cap companies.
Capital bourse and Dhaka Stock Exchange (DSE) touched red zone at the end of the session for the short term profit making tendency by the investors.
“Short term profit taking tendency outnumbered value investing which contributed to today’s plummeting of DSEX,” according to an operator, EBL Securities.
It observed fall of some large cap stocks like GP, BATBC and UPGDCL were the main constituents for the market correction.
The market turnover decreased by 2 percent and stood at Taka 4.7 billion by the end of the session.
The core index, DSEX closed at 5,223.7 points with a loss of 13.1 points. Besides, the two selective indices, DSE30 declined by 8.25 points and DSES declined by 3.11 points to stand at 1841.76 points and 1203.73 points respectively.
A total number of 133,150 trades were executed in today’s trading session with a trading volume of 149.06 million securities. At DSE, 105 securities gained price while 214 declined and 35 remained unchanged.
Investors’ exerted selling pressure on sector specific stocks especially from Telecommunication, Fuel & Power and Food & Allied sectors. Sector wise performance exposed that IT (1.7%), Travel & Leisure (1.0%) and Jute (0.9%) sectors experienced highest price appreciation while Ceramic (-3.0%), Mutual Fund(-2.2%) and Life Insurance (-1.8%) sectors experienced highest price correction.
Investors’ attention was mostly concentrated on Pharmaceuticals & Chemicals (19.5%), Engineering (15.8%) and Textile (13.1%) sectors.
The top ten gainers were KDS Accessories, Hakkani Pulp, City General Insurance, Silco Pharmaceuticals, Kay and Que, Anwar Galvanizing, Standard Ceramic, Global Heavy Ceramic, Khan Brothers PP Woven Bag and Shahjibazar Power.
United Power topped the turnover list followed by Orion Infusion, Silco Pharmaceuticals, Beacon Pharmaceuticals, KDS Accessories and Fortune Shoes.
The top ten losers were SEML IBBL Shariah Fund, SEML FBLSL Growth Fund, Progressive Life Insurance, Tun Hai Knitting and Dyeing, SEML Lecture Equity Management Fund, C&A Textiles, VFS Thread Dyeing, Vanguard AML Rupali Bank Balanced Fund, NCCBL Mutual Fund-1 and Monno Jute Stafflers.
The port city bourse and Chittagong Stock Exchange (CSE) also closed in red zone today. CSCX decreased by 36.5points and CASPI decreased by 62.3 points.