12:00 AM, March 20, 2014 / LAST MODIFIED: 01:53 AM, March 08, 2015

DSE hits two-month low

DSE hits two-month low

DSEX loses 238 points in five days
Star Business Report

Stocks declined for the fifth day yesterday as investors went for profit booking.
DSEX, the benchmark general index of the Dhaka Stock Exchange, closed the day at two months low of 4,519.02 points, after falling 35.76 points or 0.78 percent.
The market gauge lost 238 points in the last five trading days.
DSES, the shariah index of the Dhaka bourse, closed the day at 983.70 points, after falling 11.31 points or 1.13 percent.
“The bourse observed strong waves of sell pressure as profit booking and panic dominated throughout the session,” IDLC Investments said in its market analysis.
The market has entered into an oversold position after declining for the last five consecutive sessions over jittery attitude of investors,” observed LankaBangla Securities.
For now, investors are eyeing on a set of improved economic indicators to reach the target, the stockbroker added.
Turnover, the most important indicator of the market, advanced 4.97 percent to Tk 338 crore, compared to the previous day.
A total of 0.97 lakh traders were executed with 6.09 lakh shares and mutual fund units changing hands on the Dhaka bourse.
The losers took a strong lead over the gainers as out of the 298 issues traded, 208 declined, 61 advanced and 29 issues closed unchanged.
All other major sectors posted losses: pharma lost the most—1.72 percent—followed by foods 1.22 percent, power 0.75 percent, telecoms 0.19 percent and non-bank financial institutions 0.33 percent.
Foods sector accounted for 16.4 percent of the day's total market turnover with trading debutant Emerald Oil Industries being the highest gainer.
Emerald Oil gained 400 percent from its initial public offering price of Tk 10 to Tk 49.70.
The company also featured in the most traded stocks chart with 68.79 lakh shares worth Tk 36 crore changing hands.
United Leasing Company was the day's worst losers, slumping by 11.46 percent.
Chittagong Stock Exchange also ended in the red for the fifth session with its selective categories index, CSCX, losing 68.16 points to close the day at 8,785.12 points.
Losers beat gainers 172 to 35, with 17 issues remaining unchanged at the port city bourse that traded 0.74 lakh shares and mutual fund units with a turnover of Tk 38 crore.


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