Dhaka, Bangladesh (BBN)– Bangladesh’s stocks the bearish spell for the five consecutive sessions on Tuesday as investors continued their selling binge on banking and telecom stocks.
Brokers said the market extended the losses as investors continued to sell banking and telecommunication issues while some remained busy rebalancing their portfolios based on the latest quarterly earnings and year-end dividend declarations.
The market opened on positive note and the key index gained about 15 points within first 15 minutes of trading, but rest of the session fell steadily, finally DSEX fell more than 41 points while CSE All Share Price Index lost 140 points at closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 41.06 points or 0.72 percent to settle at 5,642 points.
The two other indices also ended lower. The DS30 index, comprising blue chips, fell 18.58 points or 0.87 percent to finish at 2,095.
The DSE Shariah Index (DSES) lost 12.12 points or 0.92 percent to close at 1,306.
Bearish sentiment also reflected on the trading activities as total turnover on the DSE amounting to BDT 4.73 billion, which was 3.50 percent lower than the previous day’s BDT 4.90 billion.
The losers took a strong lead over the gainers as out of 338 issues traded, 223 closed lower, 83 ended higher and 32 issues remained unchanged on the DSE trading floor.
Beximco continued to top the turnover chart with shares worth BDT 284 million changing hands, followed by Western Marine Shipyard, Square Pharmaceuticals, United Power and Grameenphone.
Western Marine Shipyard was the day’s best performer, posting a gain of 9.62 percent while Dulamia Cotton was the day’s worst loser, losing 6.81 percent.
The port city’s bourse CSE also closed lower with the CSE All Share Price Index – CASPI – plunging by 140 points to settle at 17,416 and Selective Categories Index – CSCX –shedding 90 points to finish at 10,524.
Here too, losers beat the gainers as 144 issues closed lower, 59 ended higher and 29 remained unchanged.
The port city bourse traded 7.38 million shares and mutual fund units worth more than BDT 223 million in turnover.