Pandemic worries drag stocks further down
Turnover at the DSE increased by 14 percent to Tk61.5 crore on Monday – from Tk53.9 crore in the previous session
Bourses posted losses on Monday because panic-driven investors were mostly active on the selling side.
DSEX, the prime index at the Dhaka Stock Exchange (DSE), slipped 6 points – or 0.1 percent – to close the day at 3,958.
The Shariah-based DSES index also inched down 2 points, or 0.2 percent, to settle at 917, while the blue-chip index DS30 went down 4 points, or 0.3 percent, to stand at 1,325.
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The benchmark index Caspi at the Chittagong Stock Exchange lost 20 points, or 0.2 percent, to close at 11,239.
The market started losing points from the beginning of the session and continued to do so till the mid-hours on the intraday performance graph. Afterwards, it slightly moved upwards and then ended the session flat.
According to the Daily Market Review of EBL Securities Ltd, "The proposed budget has failed to boost investors' confidence as they found nothing special in it to motivate investment in the capital market."
Additionally, the worsening pandemic situation has made the market almost buyer-less in recent days as the outbreak is going to have a long-lasting adverse impact on the country's economy.
Most of the sectors posted losses on Monday with the pharmaceuticals and life insurance sectors witnessing the highest price correction of 0.4 percent.
Among the other large-cap sectors, telecom, textiles, banking, and cement remained flat.
Turnover at the DSE increased by 14 percent to Tk61.5 crore on Monday – from Tk53.9 crore in the previous session.
Also, turnover at the port city bourse increased by 328 percent – from Tk2.5 crore to Tk10.7 crore.
The pharmaceuticals sector contributed the most – 38 percent – to the total turnover value. It was followed by banking stocks (23.7 percent) and the fuel and power sector (16.7 percent) on the sector-wise turnover distribution board.
Beximco Pharmaceuticals Ltd once-again topped the turnover chart with a turnover value of Tk8.2 crore, closing the day at Tk62.6 per share. The stock was followed by Linde Bangladesh Ltd with a turnover value of Tk3.9 crore, closing the day at Tk1,293.1 per share.
Vanguard AML Rupali Bank Balanced Fund was the best performer on the gainers' table, gaining 2.2 percent and closing at Tk4.6 per share.
Beximco Synthetics Ltd was the worst loser, shedding 5.6 percent and closing at Tk5.1 per share.
Out of the 262 issues traded on Sunday, only 7 advanced, 34 declined, and 221 remained unchanged on the DSE trading floor.
