DSEX lost 164 points in 4 days
Beximco Limited grabbed the top position in the turnover chart, which was followed by Orion Pharma and IFIC Bank
The benchmark index DSEX of the Dhaka Stock Exchange (DSE) lost 164 points in the last four days as most investors kept from pouring money in the volatile market.
During this downward period, the market capitalisation has decreased by Tk12,536 crore to Tk5.50 lakh crore.
Due to intensive sell pressure, the DSEX fell by 0.80% to 6,898 points and the blue-chip index DS30 dropped 0.77% to 2,585 points on Wednesday.
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Investors' participation decreased while the total turnover declined 10.86% and stood at Tk1,154 crore as against Tk1,295 crore in the previous session.
Following the downfall, 246 companies' share price declined, while only 89 advanced and 40 remained unchanged.
Meanwhile, the port city bourse Chittagong Stock exchange's All Share Price Index (CASPI) dropped 216 points to close at 20,187.
EBL Securities said in its daily market review, most of the investors remained on the sideline and observed the market movement as they perceived that the market may remain volatile in the forthcoming sessions.
Many investors rushed to participate in the hyped-up textile stocks as the sectors exerted substantial gain amidst the price correction in the market.
Heavyweight stocks, such as British American Tobacco, Square Pharma, Orion Pharma, Beximco Pharma and GPH Ispat dragged the index on Wednesday. LafargeHolcim and Beximco Limited tried to pull the index, but it was not sufficient.
On the sectoral front, textile stocks were the most traded and they contributed 17% to the day's total turnover, followed by miscellaneous – 14.31% - and pharmaceuticals – 13.44%.
Except the two sectors, all the sectors observed declining performance, out of which Jute (3.2%) and cement (2.2%) exerted the most positive returns.
While food (-3.1%), ceramic (-2.2%), and engineering (-2.1%) observed the most corrections on Wednesday.
Bd Lamps topped the gainer list with a 9.95%, which was followed by Gemini Sea Food and Pharma Aid.
On the other hand, Alif Manufacturing performed the worst, which lost 7%, followed by Shahjibazar Power – 6.44% and Shepherd Industries – 6.25%.
