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Stocks slip on selling spree

WT24 Desk

Dhaka stocks slid to lower support level to finish the week as the market saw high level of selling pressure at all five-trading sessions when demand side was slack.
The broader DSEX index of Dhaka Stock Exchange (DSE) lost 126.24 points to the weeklong volatility before taking refuge at the lower psychological support level at 4345.89, which was the lowest in over eight months.  The blue-chip DS30 also fell below 1700-point mark and lost over 31 points during the week to finish at 1671.17. The Shariah DSES, however, remained at the same 1000-point level though the index lost over 23 points during the five trading sessions to close at 1065.68.

The activities on the market, however, were moderate when the daily trade volume remained over 6.0 crore shares and the trade value was above Taka three crore unlike previous weeks.  Most of the traded issues incurred loss during the week on selling pressure.  Some scrips closed higher after announcing lucrative corporative disclosures. The major gaining sectors were fuel and power (10.15 percent), telecom (4.28 percent) and pharmaceuticals (1.63 percent).

The most losing sectors were mutual fund (-5.95 percent), textile (-5.05 percent) and NBFI (-4.85).  Among the top gaining companies were Samata Leather (24.6 percent), Pharma Aid (23.0 percent) and ACI (21.8 percent) when the major losing companies were Reliance Insurance (-28.0 percent), ICB Sonali1 (-25.0 percent) and FEKDIL (-23.9 percent).

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