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Dhaka Tribune

DSEX falls to 10-week low

Update : 24 Mar 2014, 07:20 PM

Stocks dropped for the second consecutive session yesterday, with benchmark index DSEX falling to 10-week low.

The market was pulled down by mainly pharmaceuticals, non-banking financial institutions and, food and allied that declined more than 1% each.

The DSEX was down 53 points or 1% to close at 4,466. It was its lowest level since January 15, 2014. The index value is also 7.8% down from its recent peak of 4,845 recorded on February 6, 2014.

Shariah Index DSES lost 11 points or 1% to 968.The blue-chip comprising DS30 fell 26 points or 1.6% to end at 1,589.

Chittagong Stock Exchange Selective Category Index, CSCX, shed 103 points to 8,699.

Trading activities continued to remain sluggish despite rising turnover at DSE. It stood at Tk298 crore, recovering from its previous session’s 5-month low.  

All the sectors lost their ground except the two small cap sectors – paper and printing and

jute that rose 1.6% and 0.3% respectively.

Pharmaceuticals was the biggest loser which closed almost 2% lower, followed by cement 1.9%, financial institutions 1.8%, food and allied 1.2%, power 1%, telecommunications 0.9% and banks 0.7%.

ILDC Investments in its daily market analysis said another gloomy session passed by yesterday amid fear continuing and gripping investors tighter.

“As sentiment was shaky amid cloudier investment outlook, bearish spell remained strong and dominated the market throughout the session.”

Lanka Bangla Securities said market remained in a deep consolidation phase for the second consecutive week after giving some intra-day gains on sector specific stocks.

“Market has lost some ground on cue of panic sell after Bangladesh Bank ruled to reduce the capital market exposure of banks, losing 6% in a month from now.”

Newly listed company Emerald Oil was the most traded stocks with shares worth nearly Tk20 crore changing hands, making up 4% of the total DSE turnover.

It was followed by Bangladesh Shipping Corporation, Square Pharmaceuticals, Lafarge Surma Cement, Bangladesh Submarine Cable Company Ltd, Bangladesh Building and Padma Oil. 

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