Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their losing streak for the three consecutive sessions on Sunday as cautious investors continued their selling spree, especially bank stocks.
Brokers said the market finished lower as most of the investors opted for quick-profit, especially on banks as some banks declared poor dividend for the year ended on December 3`1, 2016.
The market started with a negative note and the downbeat trend continued till end of the session amid modest volatility.
The key index of the Dhaka Stock Exchange lost 28.24 points while the Selective Category Index of port city bourse shaded 65.10 points at the closing.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), came down below the 5,700-mark once again and finished at 5,691.37, losing 28.24 points or 0.49 per cent over the previous session.
The two other indices also closed in the red.
The DS30 index, comprising the blue-chips fell 6.85 points or 0.32 per cent to finish at 2,084 points.
The DSE Shariah Index (DSES) also lost 2.04 points or 0.15 per cent to close at 1,302 points.
Turnover, the important indicator of the market, came down to BDT 7.41 billion, which was 9.30 per cent lower than the previous day’s BDT 8.17 billion.
The losers took a strong lead over the gainers as out of 325 issues traded, 179 declined, 110 advanced and 36 issues remained unchanged on the DSE trading floor.
LankaBangla Finance dominated the turnover chart with shares of nearly BDT 385 million changing hands, followed by Islami Bank, City Bank, IDLC Finance and IFAD Autos.
Linde Bangladesh was the day’s top gainer, posting a rise of 4.82 per cent while Islami Bank was the worst loser, slumping by 12.41 per cent following its poor dividend declaration.
The port city bourse, the Chittagong Stock Exchange (CSE), also ended lower with its Selective Categories Index – CSCX – shedding 65.10 points to settle at 10,689 points.
Losers beat gainers as 134 issues closed lower, 72 closed higher and 27 remained unchanged on the CSE.
The port city bourse traded 14.55 million shares and mutual fund units worth nearly BDT 543 million in turnover.