Stocks start week in red
Dhaka Stock Exchange continued its losing streak and started the week in the red amid low participation of investors yesterday.
The benchmark index—DSEX—lost 55.46 points before closing at 6,008.95 yesterday compared to the last session. The daily turnover also dropped 16.57 percent to Tk 620 crore compared to the previous day. The transaction value slumped as investors were reluctant to make fresh investment in stocks, market insiders said.
The market started the session on a positive note, but later it experienced a sharp fall to end the day in the negative territory, according to a daily market research of UCB Capital Management. The price indices were down as investors did not take position to make fresh investment, said Md Moniruzzaman, managing director of IDLC Investments Limited.
He said the investors still prefer adopting a wait-and-see policy as there is more space for correction.
Most of the major sectors witnessed a moderate correction, excluding pharmaceuticals and chemical sectors which gained 0.49 percent and 0.18 percent respectively. The banking sector was the market leader by contributing 42.16 percent to the total turnover.
Ifad Auto was the highest traded share with a turnover of Tk 33.31 crore followed by Uttara Bank with Tk 28 crore. Trust Bank stood third with Tk 27.55 crore in turnover. The bank featured on the top gainers' list, as its share prices increased 5.87 percent to close at Tk 46.90.
The share price of Trust Bank has started increasing since September 27 when each share was traded at Tk 36.70.
DSE queried Trust Bank about the recent unusual price hike. In reply, the bank said there is no undisclosed price sensitive information.
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