Stocks fall for second session

Dhaka stocks fell yesterday for the second consecutive day because of low participation of investors.

The DSEX, the benchmark index of the premier bourse, fell 7.15 points or 0.12 percent before finishing the day at 5,806.13.

“The market started on a positive note and witnessed a choppy session before closing in the red,” UCB Capital Management said in its daily market analysis.

The investors chose to liquidate their stocks to post quick gains as earnings declarations did not meet their expectation, EBL Securities said in its analysis. Turnover, another important indicator of the market, dropped 1.37 percent to Tk 485.65 crore with 12.21 crore shares and mutual fund units changing hands.

Of the traded issues, 130 advanced, 152 declined and 54 closed unchanged.

Beximco dominated the turnover chart with 99.84 lakh shares worth Tk 30.87 crore changing hands, followed by Al-Arafah Islami Bank, Brac Bank, Grameenphone and Usmania Glass.

Among the major sectors, cement was the hardest hit, losing 1.26 percent in market capitalisation. Financial institutions fell 1.67 percent, banking 0.34 percent, telecom 0.28 percent and textile 0.12 percent.

On the other hand, shares of the food and allied and life insurance sectors rose 1.07 percent and 0.76 percent respectively.

Aziz Pipes was the day's best performer with 9.88 percent gain, followed by NCC Bank Mutual Fund-1, FAS Finance and Libra Infusions.

Central Insurance was the worst loser, shedding 6.89 percent, followed by Janata Insurance, Advent Pharma and Purabi General Insurance.

Chittagong stocks also fell with the bourse's benchmark index, CSCX, declining 49.39 points or 0.5 percent to finish at 10,776.40.

Losers beat gainers as 131 declined, 82 advanced and 26 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded 77.54 lakh shares and mutual fund units worth Tk 36.50 crore.