Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended their losing streak for the second session in a row on Sunday, the opening day of the week, as late hour sale pressure wiped out early gains.
The market opened higher in the morning and key index of the premier bourse rose 8.0 points within the first 40 minutes of trading, but rest of the session fell amid marginal volatility, eventually ended slightly lower.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,387.78, losing 7.50 points or 0.17 percent.
The DS30 index, comprising blue chips, fell 4.95 points or 0.28 percent to close at 1,724.33. The DSE Shariah Index (DSES) also shed 0.07 point to finish at 1,080.75.
Turnover, an important indicator of the market, also fell six-session low to BDT 3.21 billion, which was 40 percent lower than the previous day’s three and a half months highest turnover of BDT 5.31 billion.
The losers took a strong lead over the gainers as out of 317 issues traded, 176 closed lower, 90 higher and 51 remained unchanged on the DSE trading floor.
ACME Laboratories continued to dominate the turnover chart for the ninth trading sessions since its debut on June 7, with shares worth BDT 303 million changing hands, followed by Bangladesh Building Systems BDT 238 million, Aman Feed BDT 103 million, Quasem Drycells BDT 102 million and Olympic Accessories BDT 101 million.
Global Heavy Chemical was the day’s best performer, posting a rise of 9.49 percent, while Rupali Bank was the worst loser, plunging 14 percent following its price adjustment after record date.
The port city bourse Chittagong Stock Exchange (CSE) also closed slightly lower with its Selective Categories Index- CSCX- shedding 10.80 points to finish at 8,223.81 points.
Losers beat gainers 122 to 70, with 45 issues remaining unchanged on the port city bourse that traded 7.33 million shares and mutual fund units with a value of BDT 209 million.