Year’s maiden session edge lower

Stocks witnessed a mild correction on Sunday, the first trading session of the New Year with falling turnover, as late hour sale pressure wiped out early gains.

The market opened with a positive note, gaining 31 points within first 40 minutes of trading, however the momentum could not sustain as the session progressed, eventually closed slightly lower. The prime index of the Dhaka Stock Exchange (DSE), settled at 4,624.02, shedding 5.62 points or 0.12 per cent, after remaining positive in the past three sessions. The two other indices, however, managed to close in green zone. The DS30 index, comprising blue chips, advanced 8.92 points or 0.50 per cent to finish at 1,759.51.

The DSE Shariah Index (DSES) inched up by 2.16 points or 0.19 per cent to 1,109.28. Turnover value on the DSE came down to Tk 3.66 billion, which was 15.6 per cent lower than the previous session’s Tk 4.34 billion. Losers beat gainers 153 to 119, with 44 issues remained unchanged on the DSE trading floor. Beximco dominated the turnover chart on the DSE with shares worth Tk 265 million changing hands followed by Beximco Pharma, Emerald Oil, United Power Generation and Distribution Company and KDS Accessories. Miracle Industries was the day’s best performer, posting a rise of 7.84 per cent while Western Marine Shipyard was the worst loser, plunging 9.78 per cent following its category change.

The port city bourse Chittagong Stock Exchange (CSE), however, closed marginally higher with its Selective Categories Index – CSCX – advancing 12.02 points to settle at 8,584.14. Losers beat gainers 102 to 99, with 25 issues remaining unchanged on the port city bourse that traded 6.84 million shares and mutual fund units with a value of Tk 231 million.