Stocks hit record low
The benchmark index of Dhaka Stock Exchange tumbled to a four-month low yesterday amid a selling spree of large-cap securities. The DSEX declined 31.92 points or 0.71 percent, finishing the day at 4,410.22 points. The index closed at 4,371.54 points on November 11 last year.
Stocks dropped sharply after a rocky start in the morning trade, due to lacklustre participation of investors, LankaBangla Securities said. The index seems to be testing the next support level of 4,370 points as investors see no signs of imminent recovery, the stockbroker said. The selling pressure from large-cap stocks dragged the benchmark index down to the four-month low, LankaBangla said in its regular analysis.
Turnover, another important indicator of the market, also dropped 24.9 percent to Tk 323.48 crore, with 9.77 crore shares and mutual fund units changing hands on the DSE.
Of the traded issues, 90 advanced, 175 declined and 49 closed unchanged on the premier bourse.
Square Pharma dominated the turnover chart with 9.31 lakh shares worth Tk 23.79 crore changing hands, followed by Keya Cosmetics, AFC Agro Biotech, BSRM and Beximco Pharma.
Among the major sectors, cement suffered the most, declining 1.61 percent in market capitalisation, followed by non-bank financial institutions that fell 1.24 percent, telecom 1.15 percent, fuel and power 1.09 percent, textile 1.08 percent and pharmaceuticals 0.91 percent.
Eastern Lubricants was the day's best performer with 7.48 percent gain while Summit Alliance Port was the worst loser, shedding 9.04 percent.
Chittagong stocks also fell yesterday with the bourse's benchmark index, CSCX, declining 61.47 points or 0.74 percent to finish the day at 8,243.35 points.
Losers beat gainers as 144 declined, 64 advanced and 26 finished unchanged on the Chittagong Stock Exchange. The port city bourse traded 78.52 lakh shares and mutual fund units worth Tk 20.31 crore in turnover.
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