Price fall in large-cap drives stocks down

Business Desk :

Country’s both bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Sunday plunged as sell pressure remained prevalent across the trading floor.

DSEX, the broad index of the Dhaka Stock Exchange, lost 49.4 points and settled at 4,979 points as against 5,028 points in the previous trading session.

Although the indices briefly stayed afloat until mid-session amid modest volatility and investors’ participation on both sides of the trading fence, selling pressure intensified as the day progressed, pulling most scrips into negative territory.

However, market turnover increased by 12.1per cent to Taka 4.9 billion from Taka 4.4 billion in the previous session.

On the sectoral front, Engineering (12.6per cent) accounted for the highest share of turnover, followed by Textile (12.6per cent) and Fuel & Power (12.0per cent).

Sectors mostly displayed dismal returns, out of which Financial Institution (-2.4per cent), Mutual Fund (-2.4per cent) and IT (-2.0per cent) exerted the most corrections on the bourse today, while only Jute (3.6per cent) and Paper (1.3per cent) exhibited marginal returns.
Of the 397 issues traded, 56 advanced, 303 declined, and 38 remained unchanged.

The port city bourse, CSE, also settled on a negative zone. The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) fell by 32.7 points and 60.9 points, respectively.