Home | Breaking News | Stocks open new fiscal in red

Stocks open new fiscal in red

WT24 Desk

Dhaka Stock Exchange (DSE) concluded the first trading session of the new 2015-16 financial year (FY16) with a negative note, with the indices and transaction declining due to lower level of participation, agencies report.

Key share price indices at the  twin bourses — Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) – experienced marginal loss on Thursday, the last trading day of the week.   The DSE benchmark index, DSEX shed 10.52 points or 0.23 percent to close at 4572.59 on the day. Of the 309 issues traded, 140 gained, 124 declined and 48 remained unchanged.

Shares worth Tk 504.62 crore changed hands at the DSE on Thursday as against Tk 590.45 crore on Tuesday.  The day’s top 10 losers at the DSE were Hakkani Pulp & Paper, Asia Pacific General Insurance, First Bangladesh Fixed Income Fund, National Life Insurance, Kay and Que, Union Capital Limited, Padma Islami Life Insurance, Asia Insurance, Jamuna Bank, and Anlimayarn Dyeing.

The top five turnover leaders at the DSE were Olympic Accessories, United Air, BEXIMCO, Appollo Ispat Complex, and United Power Generation & Distribution.  The CSE key index, CASPI lost 6.36 points to reach 14090.81 at close on Thursday. Of the 243 issues traded, 103 advanced, 99 suffered loss and 41 remained unchanged.  The value of the traded issues at the CSE was Tk 51.83 crore on the day.

DSE ended higher at the last trading session of the immediate past 2014-15 fiscal year (FY15) on a three days of solid rally.”Market predictably encountered sell off as financial year passed by and tax incentive seekers liquidated their holdings”, said IDLC Investment Limited. The daily turnover fell by 14.54 percent to Taka 504 crore when the value declined by 1.09 percent to 14.87 crore shares.

“Despite the muted participation in broader market, aviation stocks continued to perform, while other mid cap stocks of engineering, textile and miscellaneous sectors also advanced”, said Lanka Bangla Securities Limited.  Among the day’s 130 advancing issues, National Tubes, Standard Ceramic, OAl, Golden Harvest and United Air were the top most gaining securities.

Bank, food and allied and NBFI were the major lagging sectors when the top five of the day’s 132 losing issues were Hakkani Pulp, Asia Pacific Insurance, FBFIF, National Life and Kay and Que. OAL topped the turnover list followed by United Air, Beximco, Apollo Ispat and UPGDCL.  Like DSE, Chittagong Stock Exchange (DSE) also began the FY16 in red when the general CSCX lost marginally to finish the session at 8576.66.

Out of 243 issues traded, 103 advanced across the board when 99 incurred moderate loss and 41 remained static.  The trade value was Taka 51.82 crore for 2.40 crore shares.
Stock market was closed on Wednesday for bank holiday.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

%d bloggers like this: