Price fall in large-cap drives stocks down

Country's both the bourses-- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE)-- today plunged due to mainly price fall in large-cap securities.

DSEX, the broad index of the Dhaka Stock Exchange, shed 14.1 points or 0.3 percent to settle at 5,254 points, as against 5,268 points in the previous trading session.

Market analysts observed that the market observed mild volatility right from the start of today's session, while investors' profit booking pressure mostly dominated the latter half of the session as they aimed to secure their short-term gains amid the weakened strength of the market's upward momentum.

Meanwhile, market turnover also decreased by 23.7 percent to Taka 4.6 billion as against Taka 6.1 billion in the previous session.

On the sectoral front, Bank (15.3pc) issues exerted the highest turnover, followed by Pharma (13.3pc) and Textile (13.2pc) sectors. Sectors displayed mixed returns, out of which Financial Institutions (-1.7pc), Bank (-1.2pc) and Life Insurance (-1.1pc) exerted the most corrections, while Paper (3.5pc), Tannery (0.5pc) and Miscellaneous (0.3pc) exhibited marginal gains on the bourse on Wednesday.

Out of the 397 issues traded, 122 advanced, 208 declined and 67 remained unchanged.

The port city bourse, CSE, also witnessed a negative session today. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) decreased by 11.5 points and 22.5 points, respectively.