Stock market starts higher, ends lower
Graphics: Agamir Somoy
The decline in the country’s stock market continued. Following the previous trading session, the Dhaka Stock Exchange (DSE) also saw its indices fall on Thursday, the last trading day of the week. As a result, the DSE benchmark index fell to its lowest level in nearly three months. Meanwhile, both the index and trading volume declined on the Chittagong Stock Exchange (CSE).
Although the market showed a temporary upward trend at the beginning of the year, investors’ losses have been increasing amid continuous declines over the past month. The index rose during the first three hours of trading on Thursday, but the market turned downward and ended the day with a broad-based decline in the final 30 minutes.
Among the companies traded on the DSE, share and unit prices of 103 companies increased, 230 declined and 54 remained unchanged. By category, among 67 good quality companies that provide dividends of 10 percent or more, share prices of 67 companies increased, 107 declined and 20 remained unchanged.
Among six medium quality companies that provide dividends of less than 10 percent, share prices increased, while those of 65 declined and three remained unchanged. Among 118 companies in the zero dividend “Z” category, share prices of 29 companies increased, 58 declined and 31 remained unchanged. Meanwhile, prices of 32 mutual funds increased while the price of one declined.
As most companies saw their prices fall, the DSE benchmark DSEX dropped 22 points from the previous session to 5,515 points. This was its lowest level since June 8 this year. Among the other indices, the DSE 30 index, comprising 30 leading companies, fell 7 points to 2,095 points. The DSE Shariah Index declined 5 points to 1,105 points.
Although the price indices declined, trading volume on the DSE increased slightly. Shares and units worth Tk 544 crore 42 lakh were traded on Thursday. This was Tk 24 crore 65 lakh higher than the previous session’s Tk 519 crore 77 lakh. Envoy Textiles contributed the most to the trading volume with shares worth Tk 20 crore 17 lakh traded. Sharp Industries and EXIM Bank First Mutual Fund ranked second and third respectively.
Other companies among the top traded entities were Paramount Textile, Saiham Textile, Beximco Pharmaceuticals, Malek Spinning, Nitol Insurance, Mercantile Insurance and Southeast Bank.
On the other stock market, the Chittagong Stock Exchange, among 182 companies that participated in trading, prices of 65 increased, 90 declined and 27 remained unchanged. As a result, the CSE All Share Price Index (CASPI) fell by 1 point. Trading on the CSE amounted to Tk 9 crore 85 lakh, which was much lower than the previous session’s Tk 87 crore 27 lakh.
