Dhaka, Bangladesh (BBN)-Bangladesh’s stocks ended lower on Wednesday, after remaining flat in the past two consecutive sessions, as investors were mostly in selling mood ahead of national budget
Bangladesh’s national budget for the fiscal year (FY) 2016-2017 is set to unveil June 2 next.
Both the Dhaka Stock Exchange, the prime bourse of Bangladesh, and Chittagong Stock Exchange, the port city bourse of the country started with a positive note and the benchmark index of the Dhaka Stock Exchange (DSE), crossing the 4,440-mark within first 30 minutes, but could not sustain that level amid sale pressure, eventually ended lower.
The key index of the Dhaka Stock Exchange (DSE) slumped 28.03 points, while the Chittagong Stock Exchange (CSE) declined 49.53 points at the closing.
At the end of the session, DSEX, the prime index of the DSE, settled at 4,366.03, slumping by 28.03 points or 0.64 per cent over the previous session.
The DS30 index, comprising blue chips, fell 11.75 points or 0.69 per cent to finish at 1,693.02 points.
The DSE Shariah Index (DSES) shed 5.15 points or 0.48 per cent to close at 1,068.49 points.
Turnover, an important indicator of the market, came down to BDT 3.77 billion, which was 3.83 per cent lower than the previous day’s BDT 3.92 billion.
The losers took a strong lead over the gainers as out of 313 issues traded, 197 closed lower, 72 closed higher and 44 remained unchanged on the DSE trading floor.
Shahjibazar Power Company dominated the turnover chart with shares worth nearly BDT 240 million changing hands, followed by MJL BD, Doreen Power, Khan Brothers PP Woven Bag Industries and Familytex BD.
Asia Pacific Insurance was the day’s best performer, posting a gain of 6.38 per cent, while MJL BD was the worst loser, plunging 10.96 per cent following its price adjustment after record date.
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index- CSCX- shedding 49.53 points to close at 8,185.96 points.
Losers beat gainers 146 to 63, with 29 issues remaining unchanged on the port city bourse that traded 8.80 million shares and mutual fund units with a value of BDT 209 million.