Stocks slip to one month low

stock DSE

Stocks continued to fall for the sixth straight session today with the benchmark index slipping to one month low due to increased sales.

The selling pressure picked up as the day progressed, dragging the benchmark index firmly into the negative territory.

The Dhaka Stock Exchange benchmark index DSEX shed about 20 points or 0.5% to settle at 4,534 – lowest since August 1. The DS30 index, comprising blue chips, lost 7 points to 1,740. The DSE Shariah Index was down 4 points to 1,103.

The Chittagong Stock Exchange Selective Category Index CSCX shed 48 points to 8,473.

Trading activities continued to drop as the DSE turnover stood at Tk4.6 billion, down 6% over the previous session. Engineering, power and pharmaceuticals continued to dominate trading activities, together accounting for over 50% of the total turnover.

Life insurance fell highest 1.5%. Among other major sectors, bank, cement, pharmaceuticals and power decreased by 0.32%, 0.76%, 0.48% and 0.67% respectively.

On the other hand, non-life insurance gained the most 2.2%. Textile sector continued to dip as it added 1% to its previous session’s fall of 1.7%. Food and allied was up 0.5%.

Negative sentiment might have also garnered by the senior bankers’ fear of further rise in volume of non-performing loans in the country’s banking sector at the end of the current quarter, according to the Lanka Bangla Securities.

Out of 321 issues traded on the day, 102 closed higher, 164 lower and 55 remained unchanged.

MJL Bangladesh was the most traded shares for the third straight session with shares worth over Tk250 million changing hands. It was followed by National Tubes, Trust Bank, Shahjibazar Power Company Limited, Acme Laboratories Limited and Apex Tannery.

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