BBN file photo
Dhaka, Bangladesh (BBN) - Bangladesh’s stocks extended the losing streak on Thursday with key index of the major bourse dipping below the 5,400-mark further, as risk-averse investors continued their selling spree.
Market operators said the most of the investors were on selling mood amid concern over amendment of Bank Companies Act 1991 and its impact on the banking sector while some are waiting for the policy changes and economic outlook in next fiscal year (FY) which is scheduled to unveil on June 1.
Following the previous day’s mild correction, the key index of the country’s prime bourse advanced 3.56 points while the Selective Category Index of port city bourse rose 8.42 points within 15 minutes of trading at 10:45am.
After 30 minutes of trading, the DSEX stood at 5436 points, advancing 6.72 points while the Selective Category Index of port city bourse gained 3.55 points at 11:00am.
After that the market started to decline and the rest of the session fell steadily, finally ended 30 points lower.
DHAKA STOCK EXCHANGE:
The benchmark index of the Dhaka Stock Exchange (DSE), settled at 5,399.66, losing 30 points or 0.55 percent over the previous session.
The two other indices also closed in the red. The DS30 index, comprising the blue-chips, fell 10.32 points or 0.52 percent to finish at 1992 points.
The DSE Shariah Index (DSES) also lost 3.45 points or 0.27 percent to close at 1,255 points.
Turnover, the important indicator of the market, fell to BDT 6.35 billion, which was 7.16 percent lower than the previous day’s BDT 6.84 billion.
Losers took a strong lead over the gainers as out of 323 issues traded, 192 declined, 90 advanced and 41 issues remained unchanged on the DSE trading floor.
IFAD Autos dominated the turnover chart with 5.20 million shares worth BDT 717 million changing hands, followed by Paramount Textile BDT 221 million, Doreen Power BDT 220 million, LankaBangla Finance BDT 174 million and BDCOM Online BDT 129 million.
Exim Bank First Mutual Fund was the day’s top gainer, posting a rise of 7.79 percent while Regent Textile was the worst loser, slumping by 9.61 percent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index - CSCX - losing 68 points to settle at 10,124.
Losers beat gainers as 151 issues closed lower, 63 closed higher and 24 remained unchanged on the CSE.
The port city bourse traded 12.53 million shares and mutual fund units worth nearly BDT 390 million in turnover.
BBN/SS/AD