Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended the losing streak for the fourth straight session on Monday as investors mostly followed cautious stance.
Analysts said lower than expected earnings disclosures by a number of companies dampened investors’ confidence while some closely eyeing on the political front as national election nears.
The market started on positive note and the key index rose more than 30 points within first hour of trading.
But rest of the session went down steadily, finally DSEX, the prime index of the Dhaka Stock Exchange (DSE), ended more than 14 points lower.
On the other hand, the Chittagong Stock Exchange (CSE), also closed lower with its CSE All Share Price Index –CASPI – losing 57 points.
DHAKA STOCK EXCHANGE
The key index of the Dhaka Stock Exchange went down by 14.05 points or 0.26 percent, closing the day at 5,224 points.
Two other indices – the DS30 index and the DSE Shariah Index (DSES) – also closed lower.
The DS30 index, comprising blue chips, fell 4.40 points to finish at 1,848 and the DSE Shariah Index lost 6.67 points to close at 1,204.
Turnover, another important indicator of the market, remained almost same as total turnover stood at BDT 5.38 billion, which was BDT 5.39 billion in the previous day.
Of the traded issues, 153 declined, 125 advanced and 61 securities closed unchanged on the premier bourse.
A total number of 137,407 trades were executed in the day’s trading session on the DSE with trading volume of 143.19 million securities.
The market capitalisation of the DSE also fell to BDT 3,797 billion on the day which was BDT 3,814 billion in the previous session.
Khulna Power Company continued to dominate the DSE turnover chart with 3.11 million shares worth BDT 292 million changing hands.
The other turnover leaders were Saiham Textile, Nurani Dyeing, Intech and Dragon Sweater.
Bangladesh Shipping Corporation was the day’s best performer, posting a gain of 9.78 percent while Stylecraft was the worst loser, losing 78.92 percent following its price adjustment after record date.
CHITTAGONG STOCK EXCHANGE
The port city bourse, the Chittagong Stock Exchange (CSE), also ended lower with its CSE All Share Price Index – CASPI – losing 57 points to settle at 16,031 and the Selective Categories Index – CSCX – shedding 35 points to finish at 9,711.
The losers beat gainers as 118 issues closed lower, 85 ended higher, with 34 issues remaining unchanged on the CSE.
The port city bourse traded 7.18 million shares and mutual fund units worth BDT 208 million in turnover.