Stocks See Mixed Performance as DSE Falls and CSE Rises

Bangladesh stock markets witnessed a mixed performance yesterday with the key index of the Dhaka Stock Exchange (DSE) witnessing a decline, while the opposite happened in the case of the Chittagong Stock Exchange (CSE).

The DSEX, the broad index of the country’s main bourse, fell 1.47 points, or 0.03 percent from the previous day, before closing at 5,169. This was a drop for the third day in a row.

The other two DSE indices saw an opposite trend as the DSES index for sharia-based stocks rose 2.78 points, or 0.24 percent, to 1,158.

At the same time, the DS30 index of star stocks rose 0.91 points, or 0.05 percent, to 1,923.

Of the issues that changed hands on the DSE trading floor, 150 saw a price rise, 159 closed lower and the remaining 86 saw no price fluctuation.

Turnover, which represents the total value of shares that changed hands and a key indicator of cash flow in the market, declined 9.07 per cent to Tk 276 crore.

Orion Infusion Ltd became the most traded stock with a turnover of Tk 18.7 crore.

In its daily market update, Shanta Securities said the market movement was driven by negative changes in the market capitalization of financial institutions, travel and leisure, as well as paper and printing certificates.

Market capitalization is the total existing market value of a company’s existing shares.

At the same time, positive changes were observed in the market capitalization of food and related, miscellaneous and textile stocks.

Most large-cap sectors, i.e. those with large market capitalization, recorded a negative performance, with non-banking financial institutions (NBFIs) recording the highest loss of 0.92 percent .

The NBFI sector was followed by fuels and electricity (0.87 percent), food and related products (0.19 percent), telecommunications (0.18 percent) and engineering ( 0.06 percent).

However, the pharmaceutical sector recorded a gain of 0.13 percent and the banking sector recorded a gain of 0.51 percent.

Companies like Islami Bank Bangladesh, Renata, Eastern Bank, Khan Brothers PP Woven Industries, Taufika Foods and Lovello Ice-cream, Orion Infusion, Fortune Shoes, Heidelberg Materials Bangladesh, Pubali Bank and Olympic Industries attracted investors the most, according to LankaBangla Financials.

However, Al-Arafah Islami Bank, National Bank, Beacon Pharmaceuticals, BAT Bangladesh, Power Grid Company of Bangladesh, Beximco Pharmaceuticals, Grameenphone, IFIC Bank, Shahjalal Islami Bank and ACME Laboratories suffered losses.

At the CSE, the CSE All Share Price Index (CASPI), the main index of the port city’s bourse, registered a gain as the index rose 34.6 points, or 0.24 percent, to settle the day at 14,489.