Most shares on the Dhaka and Chittagong stock exchanges fell yesterday as economic uncertainty persists at home and abroad, prompting major indexes to fall for the third day in a row.
Shares of only 60 companies advanced on the Dhaka Stock Exchange (DSE), while 136 slipped and 174 found no buyers.
For all the latest news, follow the Daily Star’s Google News channel.
This forced the DSEX, the benchmark index of Bangladesh’s premier stock exchange, to fall 21 points, 0.33%, to close at 6,489.
The DSES, the Shariah-based index, fell 0.52% to 1,413. The DS30, the index composed of blue chip companies, fell 0.66% to 2,316.
“The DSEX fell below the 6,500 mark as investors opted to stay on the sidelines amid global economic uncertainty caused by rising inflation around the world,” said International Leasing Securities Ltd, a brokerage, in its daily market review.
Revenue, however, was up nearly 15% Tk 1,494 crore from the previous day.
Among sectors, services increased by 3.9%, travel by 2.9% and information technology by 1.6%. On the other hand, jute fell by 1.9% and cement by 1.2%.
Investor activity was mainly centered on pharmaceuticals, which accounted for 16.6% of daily turnover, and services, representing 9.2% of turnover.
ADN Telecom was the best performing stock of the day, rising 9.93%. Index Agro Industries, Aziz Pipes and Mir Akhter Hossain also jumped more than 9%.
Shares of Saif Powertec rose 5.28% on news of an agreement with Abu Dhabi-based Safeen Feeders to operate three container supply vessels on the Bangladesh-UAE and other international routes.
Saif Powertec estimates that the freight revenue per vessel would be about $20 million, or about Tk 200 crore, per year, while the net profit would be $2.50 million, or about Tk 25 crore.
Jute Spinners suffered the biggest fall, losing 7.16%. Pragati Life Insurance, Monno Agro & General Machinery and Sunlife Insurance Company were down more than 4%.
Orion Pharma was the most traded stock with its issues involving Tk 119 crore traded. Bangladesh Export Import Company had a turnover of Tk 94 crore.
The Caspi, the all-stock index of the port city stock exchange, fell 25 points, or 0.13%, to end the day at 19,156. Of the stocks, only 54 advanced, 94 fell and 104 have remained unchanged. Revenue fell more than 10% to Tk 103 crore.