DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 40.72 points or 0.83 per cent to close at 4,837.92 points. DSEX lost 106.11 points in the last five consecutive trading sessions.
The two other indices also closed in the red. The DS30, comprising blue chips lost 15.74 points or 0.87 per cent to close at 1,788.70 points. The DSE Shariah Index plunged 9.46 points or 0.82 per cent to close at 1,137.88 points.
Turnover improved slightly and amounted to Tk 2.85 billion, registering an increase of 19.74 per cent over the previous session’s value of Tk 2.38 billion.
The investors’ attention was mostly focused on pharma, engineering and textile – the sectors that accounted for 17.51 per cent, 12.67 per cent and 10.84 per cent of the day’s total turnover.
“Dhaka stocks suffered yet another setback as investors’ sell-off mounted in large-cap stocks and banks,” said International Leasing Securities in an analysis.
The DSEX plummeted above 40 points, along with 19 per cent increased participation from the investors as issues from major sectors witnessed price depreciation, said the International Leasing.
However, several small-cap stocks from various sectors remained on the investors’ good grace amidst their recent price hike, the International Leasing added.
IDLC Investments said: “The market lost another 40 points, as sell pressure out powered investors’ risk appetite”.
At the same time, market is gradually overcoming its initial knee jerk response to the new trading platform, with continuously rising turnover which amounted to Tk 2.8 billion, the merchant bank said.
“The investors seemed divided about future market direction, with half of them invested in volatility based trading strategy for small-cap stocks, while others put their attention to sector giants like Lafarge Surma Cement, Square Pharma and GP,” the merchant bank added.
Meanwhile, as default loans piled up to be over Tk 570 billion, as per recent reports, Banks remained subdued and lost 1.2 per cent, despite year end approaching, the merchant bank added.
LankaBangla Securities said that stocks continued to sink as market saw major selling pressure with benchmark index 40.70 points down further.
The market outlook remained hazy to investors. DS30 cracked together with benchmark index losing 15.75 points hitting to two weeks’ low, it said.
Among the major updates on financial sector, concerned over unrelenting increase in the load of non-performing loan (NPL), the central bank Monday last asked bankers to bring down the NPL below 10 per cent by the end of this month, the stock broker added.
All the major sectors lost Wednesday. Cement registered the highest loss of 1.49 per cent. Following it, the financial sectors – banks and NBFIs – closed 1.20 per cent and 0.69 per cent lower respectively.
Pharmaceuticals, food and allied and power also retraced by 0.65 per cent, 0.63 per cent and 0.56 per cent respectively
Losers outpaced gainers as out of 312 issues traded, 172 declined, 100 advanced and 40 remained unchanged on the DSE floor.
Activities increased in the major bourse where trade and volume were up by 2.53 per cent and 8.97 per cent respectively. A total of 0.082 million trades were executed with trading volume of 71.38 million securities.
The market capitalisation on DSE stood at Tk 3,223.78 billion against Tk 3,238.82 billion in the previous session.
Agni Systems Ltd was the most traded stock with shares worth Tk 107.97 million changing hands followed by Western Marine, Fu-Wang Foods, Lafarge Surma Cement and Square Pharma.
MBL First Mutual Fund was the day’s top gainer, posting a rise of 10 per cent while Aziz Pipes was day’s worst loser, plunging 10.20 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) closed lower for the fifth sessions with its Selective Categories Index – CSCX – lost 52.82 points to close at 9,099.93 points.
Losers beat gainers 138 to 81, with 34 issues remaining unchanged at the port city bourse that traded 8.15 million shares and mutual fund units, turnover value of Tk 260.13 million.