Stocks on Dhaka bourse fall marginally

The key index of the Dhaka Stock Exchange (DSE) edged down yesterday, snapping gains in the previous session.

The DSEX, the benchmark index of the top bourse in Bangladesh, slipped two points to close at 6,260.

However, the DS30, the blue-chip index, inched up 0.04 per cent to 2,226 while the DSES, the shariah-compliant index, added 0.05 per cent to 1,362.

Turnover, a key indicator of the market, fell 16 per cent to Tk 545 crore. Of the securities, 47 advanced, 113 declined and 168 did not show any price movement.

The stock market's recent rally suffered a slight setback while the turnover dipped as investors realised some of their profits and waited for new opportunities, said International Leasing Securities Ltd (ILSL) in its daily market analysis. 

Among the sectors, travel and leisure advanced 2.2 per cent and IT rose 1.8 per cent.

The life insurance sector shed 1.7 per cent, and the ceramic, jute and paper and printing sectors lost 0.5 per cent.

Investors' concentration was mainly focused on the IT sector, accounting for 22.4 per cent of the daily turnover. The life insurance sector represented 10.8 per cent and the food sector made up 8.5 per cent of the turnover.

Shyampur Sugar Mills made the highest gain with an increase of 10 per cent. Zeal Bangla Sugar Mills, Dhaka Insurance and Imam Button Industries also rose more than 9.9 per cent. Padma Islami Life Insurance was the sharpest loser, shedding 5.2 per cent.

National Feed Mill, Pragati Life Insurance, Fareast Finance & Investment, and Prime Islami Life Insurance were also on the list of significant decliners.

Genex Infosys was the most-traded stock on the DSE with its issues worth Tk 43 crore changing hands. Eastern Housing, Sea Pearl Beach Resort & Spa, Aamra Networks, and ADN Telecom also registered significant turnover.

The Caspi, the all-share price index of the Chittagong Stock Exchange, rose four points to 18,450.

Of the issues, 39 rose, 46 retreated and 64 did not see any price swing. The turnover dipped more than 51 per cent to Tk 9.83 crore.

HOW MARKETS FARED IN THE WEEK

The stock market witnessed a bullish week as investors returned to buying mood along with energetic participation based on the security regulator's clear indication about keeping the price floor till the market regains its due momentum, said ILSL.

"Hence, a positive and participatory approach from investors ensured a gradual upswing of the index throughout the week except for the last day. Increased participation of the investors displayed growing optimism and confidence in the overall prospect of the market."

The DSEX added 46.4 points while the average daily turnover increased by 72 per cent to Tk 616 crore.

The travel and leisure sector gained 13.4 per cent, the paper and printing sector edged up 7.8 per cent and the IT sector rose 6.5 per cent. The financial institution sector lost 0.3 per cent, and the mutual fund and pharmaceuticals and chemical sectors declined 0.2 per cent.

The bourse in the port city added 167.4 points in the week.