Price fall in large-caps drives stocks down

Stocks on Sunday opened the week with downward trend due mainly to price fall in large-cap securities with lower transactions.

The falling major sectors were insurance, food and allied and textile. A total of 183 securities of the large-cap group moved down due to lower activities, reports BSS.

The broader DSEX index of Dhaka Stock Exchange (DSE) closed the day with 47.71 points down at 5,333.09. The Shariah DSES and the blue-chip DS30 also followed the same trend with 11.93 points down at 1,221.46 and with 19.69 points down at 1,890.38.

“Huge amount of classified loans and liquidity crisis in the banking sector is one of the causes for falling trend of the stock markets. The authorities concerned should take more initiatives to bring back the confidence of investors,” Director of the Western Securities Investment Management Limited Imtiaz Ahmed told BSS today.

The daily trade fell to 17.29 crore shares from Thursday’s 18.43 crore shares and the day’s trade value at DSE decreased to Taka 415.34 crore from Taka 487.53 crore of the previous session.

At DSE, out of the day’s 353 securities, prices of 87 securities closed higher against 239 losing issues.

The major gaining issues were CAPMBDBLMF, SEMLFBSLGF, ATCLGF, SEMIBBLSF and 1STPRIMFMF. The major losing companies were Global Insurance, Zeal Bangla, Emerald Oil, HRTEX and Sonar Bangla Insurance.

JMISMDL topped the turnover list followed by ATCSLGF, Runner Auto, National Life Insurance and Rupali Insurance.

The Chittagong Stock Exchange (CSE) closed the day of the week with downward trend with its major CASPI 136.36 points down at 16,333.01.

At CSE, 265 issues were traded. Of those, 78 closed higher and 162 closed lower when 83.26 lakh shares worth Taka 18.20 crore changed hands.