Dhaka stocks on Thursday dropped for the third session amid fall in price of banking sector scrips and heavy rise in debutant Advent pharma.
The key index of Dhaka Stock Exchange, DSEX, dropped 0.34 per cent, or 20.12 points, to close at 5,813.13 points on Thursday.
The core index lost 66 points in the last three trading sessions.
The market opened the day with positive vibe but later the momentum shifted towards the opposite direction and DSEX closed in the red zone, market operators said.
They said many of the investors continued with cautious trading on Thursday as they wanted to figure out the what impact the implementation of Bangladesh Bank’s new reduced cash reserve ratio of banks and repo rate would bring out in the financial market.
The BB earlier cut the banks’ CRR by 1 percentage point and repo rate by 0.75 point with effect from Sunday (April 15).
A section of investors also remained on profit taking share sales after a significant surge in core index following the government announcement of aforesaid steps to increase fund flow in the financial market.
Like the previous session, the financial sectors led the dive of the day with non-bank financial institutions and banks sectors losing 1.32 per cent and 0.66 per cent respectively.
Advent Pharma which made debut on Thursday shot up by 385 per cent to settle at Tk 48.40.
Out of 30 traded bank scrips, 24 declined, 4 advanced and two remained unchanged while out of 23 traded NBFIs, 18 declined, just two advanced and three remained unchanged.
Besides the financial sectors, engineering, energy and pharmaceuticals also declined on the day.
Among the large capitalized scrips, United Commercial Bank, Investment Corporation of Bangladesh and City Bank declined most on the day.
The turnover at the bourse increase slightly to Tk 553.42 crore on Thursday compared with that of Tk 529.18 crore in the previous session.
‘The capital bourse of the country witnessed another bearish session today continuing for the third consecutive session amidst day-long selling pressure,’ said EBL Securities in its daily market commentary.
Of the 335 companies and mutual funds traded on the day, 228 declined, 74 advanced, and 37 remained unchanged.
DS30, the blue-chip index of the DSE, also slipped 0.18 per cent, or 4.09 points, to finish at 2,186.79 points.
Shariah index DSES, shed 0.32 per cent, or 4.43 points, to close at 1,352.83 points.
Bangladesh Export Import Company led the turnover chart on the day with its shares worth Tk 37.40 crore changing hands.
BRAC Bank, Advent Pharmaceuticals, Monno Ceramics, Mercantile Bank, Keya Cosmetics, LafargeHolcim Bangladesh, Northern Jute Manufacturing Company, Square Pharmaceuticals and IFAD Autos were the other turnover leaders.
Popular Life Insurance Company gained the most with a 9.39-per cent increase in its share prices, while BRAC Bank was the worst loser, shedding 18.00 per cent.
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