Dhaka, Bangladesh (BBN) – Bangladesh’s Stocks extended their losing spell for the five weeks in a row that ended on Thursday as investors remained on selling frenzy.
The prime index of the Dhaka Stock Exchange (DSE), went down by 62.33 points or 1.37 percent to settle at four months low to 4,502.16 points.
The DS30 index, comprising blue chips, plunged 14.61 points or 0.85 percent to finish at 1,711.36. The DSE Shariah Index dropped 7.83 points or 0.83 percent to end the week at 1,084.48.
The port city bourse Chittagong Stock Exchange (CSE) saw steep decline with its Selective Categories Index - CSCX – slumping 123.76 points or 1.45 percent to end the week at 8,367.86.
Turnover remained sluggish on the prime bourse the daily turnover averaged BDT 3.0 billion, which was 14.36 percent lower than the previous week’s average of BDT 3.51 billion.
LankaBangla Securities, a stockbroker, said, “Last week has also been a negative one for the stock market of prime index of the major bourse. Benchmark index lost 1.36 per cent last week as investors went for selling spree”.
Among the heavyweights, Titas Gas lost 9.8 percent which had an impact on the broad market, said the stockbroker.
The losers took a strong lead over the gainers as out of 328 traded issues, 244 closed lower, 69 higher and 14 remained unchanged on the DSE trading floor last week.
IFAD Autos dominated the week’s turnover chart with shares of BDT 962 million changing hands during the week followed by Square Pharma, Lafarge Surma Cement, KDS Accessories and Quasem Drycells.
ICB Third Mutual Fund was the week’s best performer, posting a rise of 22.57 percent while Zeal Bangla Sugar Mills was the week’s worst loser, plunging by 25.81 percent.
BBN/SSR/BB