Stocks fall for second day

Indices of the Dhaka Stock Exchange (DSE) fell for a second day yesterday as jittery investors went on a share selling spree amid price movements.

Following the preceding day's sharp fall, the DSEX, the broad index of the country's premier bourse, dropped 43.72 points, or 0.81 percent, from the previous day to close at 5,335 points.

The DSES index for Shariah-based companies shed 1.47 points, or 0.12 percent, to 1,189 points.

In the blue-chip segment, the DS30 index slipped 22.08 points, or 1.12 percent, to 1,942 points.

The Chittagong Stock Exchange witnessed a similar trend as the CASPI, the main index of the port city bourse, slipped by 154.50 points, or 1.02 percent, to settle at 15,012 points.

Out of 396 scrips that witnessed trade at the DSE, only 53 saw a price rise, 55 remained unchanged while the remaining 288 closed lower.

The day's turnover decreased by 0.44 percent to Tk 367 crore.

The banking sector dominated the turnover chart, accounting for 29.05 percent of the total.

Block trades, meaning high-volume transactions in securities that are privately negotiated and executed outside the open market, contributed another 5.6 percent.

Midland Bank was the most traded share, with a turnover of Tk 36.9 crore.

Sector-wise, paper and printing, engineering and jute became the top three sectors to close in the negative while cement was the only sector to close in the positive, according to the daily market update by UCB Stock Brokerage.

All sectors that account for large amounts in market capitalisation, which refers to the value of a company's outstanding shares, closed in the negative, according to the daily market update by BRAC EPL Stock Brokerage.

Engineering experienced the highest loss of 3.58 percent, followed by non-bank financial institutions (NBFIs) (2.64 percent), fuel and power (2.09 percent), telecommunication (1.82 percent), food and allied (1.57 percent), pharmaceuticals (0.73 percent) and banking (0.25 percent).

Among the large-cap companies, Islami Bank Bangladesh, LafargeHolcim Bangladesh, Beximco Pharmaceuticals, Square Pharmaceuticals, Pubali Bank, United Commercial Bank, Eastern Bank, Agni Systems, Islamic Finance and Investment, and Jamuna Bank drew a lot of investors, according to the LankaBangla Financial Portal.

Islami Bank Bangladesh, which accounted for a drop of around 44 points of the DSEX on the previous day, was the only company to secure a double-digit growth of 18.61 percent in share prices.

Meanwhile, shares of BRAC Bank, British American Tobacco Bangladesh, Grameenphone, Beacon Pharmaceuticals, Bangladesh Submarine Cables, Renata, Prime Bank, ACME Laboratories and Olympic Industries suffered losses.

BRAC Bank suffered the highest loss of 9.33 percent.

As for the overall individual companies, Dulamia Cotton Spinning Mills took pole position on the gainers' list with a rise of 6.23 percent.

Mercantile Islami Insurance, Regent Textile Mills, Takaful Islami Insurance, Anlimayam Dyeing and United Insurance Company demonstrated strong performances as well.

National Tea Company shed the most, losing 8.74 percent.

Renwick Jajneswar and Co Bangladesh, Khulna Printing and Packaging, SK Trims and Industries, Central Pharmaceuticals, Bangladesh Finance and Sonali Life Insurance Company also suffered losses.