Indices fall after 4 days of consistent gains
The prices of most ‘Z’ category companies’ shares lowered after news broke that the securities regulator had decided to probe the shares
The broad index of the Dhaka Stock Exchange (DSE) declined by 16.92 points on Tuesday after consecutive gains for the last four days.
According to an EBL Securities daily market review, the DSE's key index, DSEX, plummeted on a short-term profit booking sale pressure as stocks witnessed sharp gains on the recent rally.
The DSEX declined by 0.34 percent to close at 4,862 points.
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Meanwhile, export earnings in August, particularly in the ready-to-use apparel sector, turned positive with a sign of strong growth of 44.63 percent year-on-year after seven months of depression; clearly indicating a steady resumption of business following the re-opening of the country's economy, added the review.
LankaBangla Securities Ltd said the securities regulator had decided to double the cash deposit to Tk10 lakh, instead of Tk5 lakh, by an investor at a brokerage house, in an attempt to increase trading by stockbrokers.
Meanwhile, turnover on the DSE trading floor decreased substantially by 33.4 percent to Tk777 crore.
However, investors' activities were observed to have been dismal on the floor while Beximco Pharma and Beximco continued to dominate the hailing top turnover board, riding on the deal with Serum Institute of India to be the lone distributor of the Indian Covid-19 vaccine in Bangladesh, the EBL Securities' review said.
Most shares of the "Z" category companies, including Zeal Bangla and Shyampur Sugar, lost their higher prices, Tuesday, after news broke headlines that the securities regulator had decided to investigate those shares against their unusual recent price hike.
However, investors mostly concentrated on pharmaceuticals that witnessed the highest turnover with a 0.3 percent loss in its market capitalisation on Tuesday. The second highest turnover was in the banking sector that posted a negative return of 0.6 percent.
The general insurance sector gained a massive 2.6 percent while the life insurance sector witnessed a massive 2.3 percent fall in market capitalisation.
However, the port city's bourse, the Chittagong Stock Exchange, also registered a sluggish session in the end. The selected index, CSCX and CASPI, declined by 31.2 and 49.1 points, respectively.
