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Dhaka Tribune

Stocks back in red with volatility

Update : 15 Nov 2015, 06:02 PM

Stocks were back in the red amid volatility yesterday, a day after rally in previous session, as anticipation of extending the deadline of the bank’s stock exposure turned into confusion.

The market opened on firm note in the morning trade backed by promising quarterly earning declaration by few consumer good stocks. However, sell pressure in the middle of the session diminished the liveliness of the market.

The benchmark DSEX rose 9 points or 0.3% to 4,424, hitting highest 4,444 in the first hour and lowest 4,418 in the final hour.

The Shariah index DSES was down 2 points to 1,065. The blue chip comprising index DS30 closed at 1,065, shedding around 3 points or 0.2% to 1,686.

The Chittagong Stock Exchange Selective Category Index CSCX fell almost 4 points to 8,228.

As investors got confused, the turnover plummeted to Tk220 crore—its lowest since March this year on DSE.

Cement and power sectors suffered most as both lost 1% each.

Almost all other sectors ended flat. Telecommunication sector dropped 0.7%, followed by food and allied 0.5%, NBFI 0.3% and life insurance 0.2% while power, bank, pharmaceuticals and textile were up marginally.

LankaBangla Securities said the market is still slogging through to get into positive terrain. “The market turnover value hits near an eight-month low as investors’ confidence remained battered amid steep correction in index.”

IDLC Investments said obscurity about timeframe extension of banks’ capital market exposure adjustment engrossed the investors’ sentiment with uncertainty.

The top turnover leaders were Titas Gas, BSRM Steel, Qusem Drycell, Olympic Industry, Saif Powertec and Shahjibazar Power Company Limited. 

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