Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their losing spell for the four consecutive sessions on Thursday as cautious investors continued on selling binge.
Analysts said the market edged down amid volatile trading and declined turnover as the investors adopted ‘wait-and-see” approach on the ongoing market movement.
The market was in the positive territory for a brief period like few trading days but investors put sale pressure to take modest profit as the session progressed, sending the market to the negative territory for the four straight days.
The key index of DSE shaded 10.47 points while the Selective Category Index of port city bourse lost 33.02 points at the closing.
The prime index of the Dhaka Stock Exchange (DSE) finished at 5,586.74, shedding 10.47 points or 0.18 per cent over the previous session.
Turnover, the most important indicator of the market, fell further and amounted to BDT 8.30 billion, which was 14 percent lower than the previous day’s BDT 9.62 billion.
It was also the one month lowest turnover since February 7, when turnover was BDT 6.20 billion.
The losers took a strong lead over the gainers as out of 329 issues traded, 189 closed lower, 96 closed higher and 44 remained unchanged on the DSE trading floor.
LankaBangla Finance dominated the DSE turnover chart with about 8.62 million shares worth BDT 534 million changing hands, followed by Ratanpur Steel Re-rolling Mills, Barka Power, Beximco and IFAD Autos.
Al-Haj Textile was the day’s highest gainer, posting 5.51 per cent gain, while Savar Refrcatories was the worst loser, losing 8.77 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged lower with its Selective Categories Index – CSCX – losing 33.02 points to settle at 10,492.48 points.
Losers beat gainers as 147 issues closed lower, 81 closed higher and 29 remained unchanged on the CSE.
The port city bourse traded 14.06 million shares and mutual fund units’ worth over BDT 427 million in turnover.