Share falls further on sell pressure

Share falls further on sell pressure


Share prices fell further at the country’s twin stock exchanges due to increasing sell pressure from investors who were either booking profit or repositioning ahead of December closure.Dhaka Stock Exchange (DSE) saw 189 securities closing lower while 84 gaining marginally among the day’s 321 trade issues. Similarly, Chittagong Stock Exchange (CSE) ended the day with 136 declining against 66 gaining securities.The higher number of losing issues brought the market indicators at the two stock exchanges further down. The broader DSEX index of DSE lost 22.20 points to 4644.98.

The blue-chip DS30 and the Shariah DSES were also down at 1746.64 and 1117.07 respectively.CSE closed the day lower, with its CASPI index ending over 84 points down at 14381.69.The daily transaction, however, rose considerably while investors were selling and repositioning. The trade value at DSE increased to Taka 644.11 crore and volume to 15.24 crore shares from Sunday’s Taka 564.63 crore for 14.14 crore shares. AT CSE, some 1.37 crore shares changed hands for Taka 41.35 crore.All the major sectors continued to slide because of higher selling while demand side was comparatively weak. Like previous sessions, large-cap securities lost most when 155 of the cap category closed down among 257 traded ones.Mutual fund lost further edge, with only three advancing against 12 losing funds. Majority of newly listed securities also closed lower. A large number of junk shares changed hands on the day on speculative buying.The day’s major losers were Doreen Power, Zahin Textile, Standard Ceramic, Orion Infusion and Fu Wang Ceramic.National Tubes, Acme Lab, Peninsula, Shasha Denim and Salvo Chemical gained marginally despite the price fall across the board. Market analysts said the issues advanced on the investors’ expectation of higher dividend at year end.Power, cement, engineering and pharmaceuticals securities remained the most favorite securities of investors while BBS, Confidence Cement, Power Grid, Doreen Power and Acme Lab were the day’s mostly traded issues.


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