Dhaka, Bangladesh (BBN)– Bangladesh’s stocks ended lower on Sunday, breaking a two-day gaining streak, as risk-averse investors booked quick-profit on sector-wise stocks.
Analysts said the market backed to the red as most of the investors followed cautious stance while some rebalanced their portfolio amid ongoing quarterly earning disclosures of listed companies.
Following the previous two days’ positive trend, the Dhaka Stock Exchange (DSE) saw positive trend while the Chittagong Stock Exchange (CSE) opened on negative trend amid low trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 5.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse fell 21 points at 10:45am.
But rest of the session went down steadily finally DSEX ended more than 30 points lower while CSE All Share Price Index of port city’s bourse lost nearly 100 points at closing.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went down by 30.18 points or 0.51 percent to settle at 5,813 points.
The two other indices also ended in the red. The DS30 index, comprising blue chips, fell sharply by 17.11 points or 0.77 percent to finish at 2,187.
The DSE Shariah Index (DSES) lost 12.14 points or 0.88 per cent to close at 1,353.
Turnover, another important indicator of the market, also fell and the total turnover on the DSE amounting to BDT 4.92 billion, which was 15 percent lower than the previous day’s BDT 5.77 billion.
The losers took a strong lead over the gainers as out of 338 issues traded, 188 closed lower, 113 ended higher and 37 issues remained unchanged on the DSE trading floor.
Beximco continued to dominate the turnover chart with 14.72 million shares worth BDT 467 million changing hands, followed by Al-Afarah Islami Bank, BRAC Bank, Grameenphone and United Power.
Sonali Aansh Industries was the day’s best performer, posting a gain of 8.74 percent while FAS Finance was the day’s worst loser, losing nearly 12 percent following its price adjustment after record date.
Port city bourse CSE also slipped into the red with the CSE All Share Price Index – CASPI –losing nearly 100 points to settle at 17,909 and Selective Categories Index – CSCX –shedding 63 points to finish at 10,822.
Here too, the losers beat the gainers as 137 issues closed lower, 67 ended higher and 32 remained unchanged on the CSE.
The port city bourse traded 9.24 million shares and mutual fund units worth more than BDT 220 million in turnover.