Stocks fall amid lower investor participation

Major indices of the stocks market in Bangladesh yesterday fell owing to lower investor participation, according to experts.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), shed 23 points, or 0.36 per cent, to close the day at 6,342 points.

The DS30, which represents blue-chip stocks, decreased by 1.1 per cent to 2,172 points while the DSES, an index comprised of shariah-compliant companies, edged down 0.3 per cent to 1,378 points.

The stock market is facing a challenging period due to the lack of buyers and so, the index dropped, a stockbroker said.

Most stocks were in the red as sellers were more active than buyers, they added.

The stock market is facing a challenging period due to a lack of buyers and so, the index dropped, a stockbroker said

Stocks of Rupali Life Insurance were mostly to blame for dragging down the DSEX as they cost the key index 2 points while Heidelberg Cement accounted for 1.7 points, as per data of LankaBangla Securities.

The jute, cement and tannery sectors rose by around 1 per cent each while all other sectors dropped.

The insurance sector saw the steepest decline of around 3 per cent, the data shows.

Turnover, a key indicator of the market's trade volume, dropped 21 per cent to Tk 746 crore.

Of the securities traded, 44 advanced, 142 declined and 159 did not show any price movement.

Stocks of Alif Industries saw the highest gain with an increase of 8.4 per cent.

Pragati Life Insurance, Gemini Sea Food, Heidelberg Cement Bangladesh and Apex Foods were among the top gainers as well.

Rupali Life Insurance Company was the biggest loser, shedding 9.9 per cent.

Meanwhile, Khan Brothers PP Woven Bag Industries, Western Marine Shipyard, Midland Bank, and Far Chemical Industries were also on the list of significant losers.

Fu Wang Food was the most-traded stock with issues worth Tk 39 crore changing hands.

Gemini Sea Food, Alif Industries, Rangpur Dairy & Food Products, and Sea Pearl Beach Resort & Spa registered significant turnover as well.

The CASPI, the all-share price index of the Chittagong Stock Exchange, slipped by 39 points, or 0.2 per cent, to close at 18,739 points.

Of the issues traded, 33 rose, 87 retreated and 73 did not see any price swing.

Turnover of the port city bourse slid by more than 19 per cent to Tk 15.53 crore.