Stocks return to the red
Stocks returned to the red yesterday, breaking a four-day gaining streak, as the investors adopted a “wait-and-see” approach in the face of a two-day strike enforced by the BNP-led 18-party alliance.
DSEX, the benchmark general index of the Dhaka Stock Exchange, closed the day at 4,296.3 points, after falling 17.75 points or 0.41 percent.
“Investors showed interest in engineering, pharma and foods shares over financial stocks,” LankaBangla Securities said in its daily market analysis.
“If political clashes continue, utility and foreign multinational companies are expected to perform better compared to other sectors in terms of profitability. In this sort of situation, textile, banks and non-bank financial institutions are at the most risk,” the stockbroker said.
Turnover, the most important indicator for the market, declined 14.89 percent to Tk 316 crore, compared to the previous day.
Losers took a storing lead over the gainers 157 to 92, while 39 issues closed unchanged on the DSE floor.
A total of 0.86 lakh traders were executed with 7.16 crore shares and mutual fund units changing hands on the Dhaka bourse.
All the major sectors declined: banks 1.07 percent, power 0.09 percent and non-bank financial institutions 0.85 percent respectively. However, pharma gained 0.17 percent.
LankaBangla Finance dominated the top turnover chart with 23.66 lakh shares worth Tk 17 crore changing hands followed by Golden Son, Unique Hotel and Resorts, Active Fine Chemicals and Appollo Isapat.
Bangas was the day's highest gainer, posting a rise of 7.74 percent, while Rahima Food was the worst losers, slumping by 7.27 percent.
The Chittagong Stock Exchange also ended marginally lower with its selective categories index, CSCX, losing 41.66 points, to close at 8,436.69 points.
Losers beat gainers 150 to 44, while 15 issues remained unchanged at the port city bourse that traded 86.84 lakh shares and mutual fund units with a turnover of Tk 33 crore.
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