Dhaka, Bangladesh
Stocks witness mild correction

Stocks witness mild correction

News Report Stocks faced a mild correction on Tuesday, snapping a four-day rally, as investors opted for quick-profit on sector specific shares. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 2.28 points or 0.04 per cent to settle at 4,779 after adding 103 points in the past four consecutive sessions. The DS30 index, comprising blue chips, also saw a fractional loss of 0.03 point to finish at 1,664. However, the DSE Shariah Index gained 3.96 points to close at 1,094. Turnover, another important indicator of the market, stood at Tk 3.92 billion, which was 32 per cent higher than the previous day’s turnover of Tk 2.96 billion. The losers took a modest lead over the gainers as out of 354 issues traded, 184 ended lower, 128 closed higher and 32 issues remained unchanged on the DSE trading floor. A total of 125,543 trades were executed in the day’s trading session with trading volume of 132.93 million securities. The market capitalisation of the DSE also rose to Tk 3,599 billion on Tuesday, from Tk 3,601 billion of the previous session. Top turnover and gainers’ chart were dominated by small-cap companies. However, the port city’s bourse, Chittagong Stock Exchange, posted a marginal gain with the CSE All Share Price Index – CASPI—gaining 11.58 points to settle at 14,531 and the Selective Categories Index - CSCX –advancing 7.95 points to finish at 8,829. Here too, the losers beat gainers, as 136 issues closed lower, 91 ended higher and 27 remained unchanged on the CSE trading floor. The port city’s bourse traded 10.19 million shares and mutual fund units worth Tk 301 million in turnover. Market analysts said the market faced natural correction as investor booked short-term profit on stocks that saw significant gains in the past four trading days. “After four-day rally, the market showed up some natural correction, creating some scope for traders to pure some fresh funds and reposition their investment,” said an analyst at a leading brokerage firm. On Monday, country’s premier bourse, Dhaka Stock Exchange (DSE), sustained the gaining streak for the fourth consecutive sessions. The broad index, DSEX closed at 4781.47 points on with a gain of 9.55 points or 0.20 per cent. Besides, the two selective indices, Blue Chip index, DSE30 and the Shariah index, DSES also went up by 6.44 and 1.24 points to settle at 1664.35 and 1090.81 points respectively. On the DSE trading floor, a total number of 95,238 trades were executed in Monday’s trading session with a trading volume of 100.12 million securities. Investor’s participation was mostly concentrated on Engineering (13.5pc), Pharma (12.7pc) and General Insurance (12.2pc) sectors. Losers took a lead over the gainers as out of 331 issues traded, 135 securities gained price while 149 declined and 47 remained unchanged. Sector wise performance exposed that Financial Institute (2.5pc), IT (2.0pc) and Travel (1.8pc) sectors experienced highest price appreciation while Paper (-2.7pc), Service (-0.5pc) and Cement (-0.5pc) sectors experienced highest price correction in today’s session, according to EBL Securities. The top 10 gainers were National Feeds, Sonarbangla Insurance, Dutch Bangla Bank, Fine Foods, Olympic Accessories, Tosrifa Industries, Eastern Insurance, Paramount Textile, LankaBangla Finance and Shurwid Industries. National Tubes topped the turnover chart followed by Sonarbangla Insurance, Zenex Infosil, Uttara Bank, Fortune Shoes, Square Pharma, Khulna Power, Bongas, Shuwrid Industries and Rupali Life Insurance. The top 10 losers were Genex Infosys, Progressive Life, Standard Ceramics, Savar Refractories, ICB Islami Bank, Beach Hatchery, National Tubes, Atlas Bangla, CAN Tex and Evince Textile. On the other hand, the port city bourse, Chittagong Stock Exchange (CSE), also closed in green maintaining the upbeat of the previous day. CSCX and CASPI also went up by 23.05 points and 37.11 points to stand at 8821.66 points and 14520.38 points respectively. At CSE, a total of 12,238,849 shares and mutual fund of 229 companies were traded, of which 87 issues advanced while 105 declined and 37 issues remained unchanged. Earlier, DSE closed the week on Wednesday with an amazing session with over 1 per cent gain in prime index, buoyed by the buying appetite of the optimistic investors amid favorable regulatory measures. Considering the lucrative price level, optimistic investors took position in sector specific stocks, the bourse witnessed buying pressure from the opening of the session in most of the sectors, especially in bank, financial institutions, engineering, food and textile sectors stocks which sustained throughout the session. The broad index, DSEX closed at 4754.69 points on Wednesday with a gain of 50.99 points or 1.08 per cent. Besides, the two selective indices, Blue Chip index, DSE30 and the Shariah index, DSES also went up by 17.05 points and 7.92 to settle at 1654.19 and 1089.32 respectively. On the DSE trading floor, a total number of 127,382 trades were executed in Wednesday’s trading session with a trading volume of 141.53 million securities. Trading activities has increased by 25.2 per cent over last session as the investor’s injected fresh fund into the market. The engineering sector dominated the turnover board and grabbed the total’s 15.1 per cent. Gainers took a strong lead over the losers as out of 351 issues traded, 221 securities gained price while 81 declined and 49 remained unchanged. Most of the sectors witnessed better performance on Wednesday. Among the major sectors based on market capitalization – bank (1.3 per cent), financial institutions (2.8 per cent), engineering (1.0 per cent) and food (0.8 per cent) sectors achieved price appreciation while general insurance (- 1.0 per cent) and tannery (-0.3 per cent) sectors witnessed correction, according to a market operator, International Leasing Securities. It added the investors’ activity was mostly centered on engineering (15.1 per cent), Pharma (12.7 per cent) and textile (12.4 per cent) sectors. National Tubes (3.9 per cent), Brac Bank (2.7 per cent) and Standard Ceramic (2.6 per cent) led the scrip-wise turnover board. The top 10 gainers were Samorita Hospital, Miracle Industries, Sinobangla, Basundhara Paper Mill, Lankabangla Finance, Tasrifa Industries, Inter Leasing, Central Pharma, Al-haj Tex and Hakkani Pulp. National Tubes topped the turnover chart followed by Brac Bank, Generation Next, Lankabangla Finance, VFS Thread, Square Pharma, City Bank, Standard Ceramics, Pharma Aid and Sonarbangla Insurance. The top 10 losers were Rahim Textile, National Tubes, ML Dying, Green Delta Insurance, Eastern Insurance, Vanguard AML Rupali Bank Balanced Fund, Bata Shoes, CAPM BDBL Mutual Fund, BGIC and Popular Life Insurance. On the other hand, the port city bourse, Chittagong Stock Exchange (CSE) also closed in green maintaining the upbeat of the previous day. CSCX and CASPI also went up by 98.71 points and 164.84 points to stand at 8776.79 points and 14445.47 points respectively. At CSE, a total of 8,684,577 shares and mutual fund of 260 companies were traded, of which 176 issues advanced while 55 declined and 29 issues remained unchanged.

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