DSEX slips below 6,200 for first time in 2 months

Shares on the Dhaka Stock Exchange (DSE) fell for the fifth straight day yesterday, forcing the broader index of the premier bourse of Bangladesh to slip below the 6,200-point mark for the first time in nearly two months.    

The DSEX lost 23 points, or 0.37 per cent, on the day to close at 6,182, the lowest since January 2. And this was the first time since January 9 that the index fell below the 6,200-point mark.

The DS30, the blue-chip index of the Dhaka bourse, dropped 0.29 per cent to 2,214 while the DSES, the shariah-compliant index, went down 0.37 per cent to 1,350.

The DSEX continued bleeding and dipped below the 6,200-mark as the risk-averse investors opted for liquidating their position to stop further losses on their portfolios, said International Leasing Securities Ltd in its daily market analysis.

The market opened with a downward movement and continued the falling trend till the closure as it observed heavy sales pressures throughout the day.

Stocks from all sectors experienced notable selling pressure. As a result, no sector observed price appreciation.

The IT sector was down 3.2 per cent, the travel sector gave up 2.8 per cent and the services sector slid 2.4 per cent.

Investors' activities were mainly focused on the pharmaceuticals sector, capturing 15.7 per cent of the day's total turnover, followed by the IT sector (15.2 per cent) and the travel sector (10 per cent).

Turnover, a key indicator of the market, rose 4 per cent to Tk 231 crore.

Of the securities, only three advanced, 149 declined and 131 did not show any price movement.

Al-Haj Textile Mills made the highest gain with an increase of 6.2 per cent. Sonali Life Insurance Company rose 0.49 per cent and Pragati Life Insurance added 0.38 per cent.

Emerald Oil Industries was the biggest loser on the day, shedding 10.5 per cent.

Metro Spinning lost 9.22 per cent, Orion Infusion closed down 8.25 per cent, Aamra Networks shed 7.3 per cent, and Bangladesh General Insurance Company retreated 7.04 per cent.

Shinepukur Ceramics was the most-traded stock with its issues worth Tk 17 crore transacting.

Genex Infosys, Sea Pearl Beach Resort & Spa, Bangladesh Shipping Corporation, and Orion Pharma registered significant turnover.

The Caspi, the all-share price index of the Chittagong Stock Exchange, declined 58 points, or 0.31 per cent, to end the day at 18,276.

Of the issues, only two rose, 52 retreated and 46 did not see any price swing. Turnover of the port city bourse plunged 35.2 per cent to Tk 6.4 crore.