Indices fall for second consecutive day
On Tuesday, indices were at their peak during the early hours of the day but dropped sharply in the midday session
Indices of both the country's stock exchanges witnessed a moderate losing session for a second consecutive day Tuesday as risk-averse investors were booking profits from major sectors.
On Tuesday, indices were at their peak during the early hours of the day but dropped sharply in the midday session. They went up slightly afterwards and maintained a stable trend.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went down by 17.81 points or 0.36% to settle at 4,928.
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The Shariah index, DSES, also fell by 2.82 points to 1,109, and the blue-chip index, DS30, lost 6.76 points to reach 1,678.
However, turnover, an important indicator of the market, was back to the Tk1,000 crore mark and on Tuesday, it increased by 10% to Tk1,067.72 crore at the DSE.
The Chittagong Stock Exchange's all share price index CASPI fell by 61.70 points to reach 14,085 in the port city; while the selective categories index CSCX decreased by 39 points to close at 8,462.
Market analysts said most of the stock prices advanced in the last few weeks. So, risk-averse investors booked quick profits by selling shares. That is why the market witnessed a downfall on investors' movement.
An official at one of the leading brokerage firms said new investment flow declined due to many investors moving to the primary market as the Bangladesh Securities and Exchange Commission (BSEC) approved a good number of initial public offerings within the last few weeks.
However, the engineering and textile sectors witnessed the highest gains in terms of market capitalisation.
In continuation of this, most of the companies on the top ten gainers list at the DSE were from the textile sector. Hamid Fabrics was the top performer, with its share posting 9.79% gain to reach Tk26.90.
Additionally, on the top ten loser list, most of the companies were from the insurance sector. Republic Insurance performed the worst. Its share price lost 8.15% to reach Tk42.80.
The insurance sector witnessed the highest gains in the last month. So, most of the investors were booking profits by selling insurance shares, according to a brokerage firm report.
However, the insurance sector marked the highest position in sector-wise turnover. Continental Insurance secured the top position with turnover of Tk35.51 crore, while Express Insurance secured second position.
Out of 355 issues traded, 187 closed lower, 115 ended higher while 53 remained unchanged on the DSE trading floor.
