Dhaka, Bangladesh (BBN)-Bangladesh’s stocks extended losing streak for the sixth session in a row on Thursday despite the Bangladesh Bank relaxed banks’ capital market exposure rules.
The central bank on Wednesday relaxed the rules related to banks’ investment in stocks in a move to boost the ailing market.
Now, the banks will not have to sell shares to adjust their stockmarket exposure exceeding the permitted ceiling.
The market opened the week on a negative note and the downturn sustain till end of the session.
Both the Dhaka Stock Exchange, the prime bourse of Bangladesh, and the Chittagong Stock Exchange, the port city bourse of the country, experienced downward trend throughout the session.
Key index of Dhaka Stock Exchange shedded 14.56 points while the selective category index of Chittagong Stock Exchange dropped 43.36 points at the closing.
DHAKA STOCK EXCHANGE:
By the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) came down below the 4,200-mark to sellte at 4,195.69, plunging by 43.25 points or 1.02 per cent.
The DS30 index, comprising blue chips, lost 20.44 points or 1.25 per cent to end at 1,612.34 points.
The DSE Shariah Index (DSES) plunged 9.54 points or 0.92 per cent to finish at 1,025.14 points.
Trading activities, however, improved amid high sale pressure.
The total turnover stood at BDT 4.42 billion, which was 24.15 per cent higher than the previous day’s BDT 3.56 billion.
The losers took a strong lead over the gainers as out of 316 issues traded, 194 closed lower, 78 lower and 44 remained unchanged on the DSE trading floor.
United Power Generation and Distribution Company dominated the turnover chart with 2.05 million shares worth BDT 338 million changing hands, followed by Keya Cosmetics, BSRM, ACI and MJL BD.
BSRM was the day’s best performer, posting a rise of 7.41 percent, while First Finance was the worst loser, plunging 26.44 per cent following its no dividend declaration news.
CHITTAGONG STOCk EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also fell sharply with its Selective Categories Index- CSCX- plunging by 76.86 points to close at 7850.19 points.
Losers beat gainers 161 to 53, with 24 issues remaining unchanged on the port city bourse that traded 7.99 million shares and mutual fund units with a value of BDT 214 million.
BBN/SK/AD