Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to the red on Sunday, after remaining upbeat in the past two sessions, as most of the investors remained followed cautious stance ahead of Eid Festival and June-closing.
The market saw a steep decline at opening as key index of the prime bourse fell around 25 points within first 80 minutes of trading amid panic sell-off, but late hours buying helped the market to end flat zone.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,380.22, shedding 1.24 points or 0.03 percent.
However, the two other indices managed to close in positive territory. The DS30 index, comprising blue chips, advanced 0.37 points or 0.02 percent to settle at 1,714.75 points.
The DSE Shariah Index (DSES) also gained 1.25 points or 0.12 percent to close at 1,080.16.
Turnover, an important indicator of the market, fell to six weeks low to BDT 2.66 billion, which was 14.15 percent lower than the previous day’s BDT 3.11 billion.
The losers took a strong lead over the gainers as out of 320 issues traded, 193 closed lower, 81 higher and 46 remained unchanged on the DSE trading floor.
Olympic Accessories continued to dominate the turnover chart for the second day with 5.20 million shares worth BDT 141 million changing hands, followed by ACME Laboratories, Aman Feed, National Feed Mills and Renata.
Prime Islami Life Insurance was also the day’s best performer, posting a rise of 9.62 percent, while Information Services Network was the worst loser, plunging 6.30 percent.
The port city bourse Chittagong Stock Exchange (CSE) edged lower with its Selective Categories Index- CSCX- falling 21.86 points to finish at 8,169.81 points.
Losers beat gainers 160 to 53, with 31 issues remaining unchanged on the port city bourse that traded 11.05 million shares and mutual fund units with a value of BDT 792 million.