Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended losing streak for the fourth running sessions on Monday as risk-averse investors continued on selling spree.
Brokers said the market kept its losing streak as cautious investors sold shares to book profit on stocks that saw substantial gain in the past few weeks, especially banks which dragged down indices.
Following the previous day’s mild correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened down with thin trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell more than 13 points while the Selective Category Index of port city bourse lost 20 points at 10:45am.
After 30 minutes of trading DSEX dropped nearly 25 points while the Selective Category Index of port city bourse fell 21 points at 11:00am.
After 90 minutes of trading, DSEX slumped nearly 38 points, while the Selective Category Index of port city bourse plunged 82 points at 12noon.
Finally, DSEX dropped 59 points while the Selective Category Index of port city bourse lost 109 points as the session closed.
DHAKA STOCK EXCHANGE:
DSEX, the benchmark index of the DSE, which replaced the DGEN in four-and-a-half-year back, settled at 6,106 points, after losing 59 points or 0.95 percent over the previous session.
The two other indices – the DS30 index and the DSE Shariah Index (DSES) – also followed the suit.
The DS30 index, comprising blue chips fell 14 points or 0.63 percent to finish at 2,186 points.
The DSE Shariah Index (DSES) also lost 8.60 points or 0.62 percent to close at 1,358 points.
The market activities stood at BDT 6.66 billion, which was 0.60 percent higher than the previous day’s BDT 6.62 billion.
The losers took a strong lead over the gainers as out of 330 issues traded, 180 closed lower, 108 higher and 42 remained unchanged on the DSE trading floor.
The banking sector continued to dominate the turnover chart with National Bank led the chart with 19.64 million shares worth BDT 293 million changing hands, closely followed by Shahjalal Islami Bank BDT 270 million, BBS Cables BDT 224 million, Jamuna Bank BDT 199 million and IFIC Bank BDT 188 million.
BBS Cables was the day’s best performer, posting a gain of 9.99 percent while Pubali Bank was the day’s worst loser, plunging by 7.52 percent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – losing 109 points to close at 11,458 points.
Losers beat gainers as 117 issues closed lower, 94 higher and 33 remained unchanged on the CSE.
The port city bourse traded 15.29 million shares and mutual fund units worth more than BDT 489 million in turnover.