• Monday, Jul 16, 2018
  • Last Update : 08:17 pm

DSEX slips to one-month low

  • Published at 06:50 pm January 26th, 2016

Stocks dropped for the fifth consecutive session yesterday with benchmark index DSEX slipping to almost one month low.

The market opened higher but failed to sustain as sell-off came in mainly on low cap stocks.

The benchmark index DSEX shed 10 points or 0.3% to settle at 4,610—its lowest since December 30 last year.

The Shariah index DSES was marginally down 3 points to 1,114. The blue chip comprising index DS30 edged 3 points lower to 1,746.

The Chittagong Stock Exchange Selective Category Index CSCX declined 24 points to 8,621.

Trading activities remained poor as the DSE turnover stood at Tk445 crore, down over 13% over the previous session.

Investors’ concentration was mostly focused on textile sector, accounting for almost 20% of the day’s turnover, followed by engineering 14% and power 10%.

Buyers outpaced sellers as out of 322 scrips traded, 110 declined, 156 advanced and 56 remained unchanged.

Banking and telecommunication sectors inched up after their marginal losses in previous session.

Engineering, textile, power and pharmaceuticals dropped while food and allied, non-banking financial institutions and insurers moved up.

After surging highest in previous session, low-cap ceramic sector declined 1.6% on profit booking.

Lanka Bangla Securities said the sell-off on DSE continued as traders were cashing in on last week’s gains amid uncertainty ahead of the release of a slew of mixed economic indicators.

Powergrid topped the turnover list, followed by Alltex, and Emerald Oil Industries, Saif Powertec, ITC, Al-Arafah Islami Bank, Square Pharmaceuticals, Beximco Pharmaceuticals and IFAD Autos.