Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended losses for the third day in a row on Wednesday with core index of the Dhaka Stock Exchange (DSE) plunging below 5,600-mark once again.
Analysts said the retail investors went for selling spree to avoid further loss while the institutional investors could not support the market more because of persistent liquidity shortage, taking the core index below 5,600-mark after nine months.
Following the previous two days’ downward movement, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on downward trend which sustained till end of the session with no sign of reversal.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell nearly 24 points while the CSE All Share Price Index (CAPSI) of port city’s bourse lost 16 points at 10:45am.
After 30 minutes of trading, the DSEX fell more than 20 points while the CSE All Share Price Index (CASPI) of port city’s bourse lost 21 points at 11:00am.
After 90 minutes of trading, DSEX lost 56 points while the CSE All Shares Price Index lost 99 points at 12noon when the report was filed.
At the end, DSEX, the benchmark index of the DSE, went down by more than 76 points while the CSE All Share Price Index – CASPI – slumping by 212 points.
DHAKA STOCK EXCHANGE:
The DSEX, the benchmark index of the DSE, went down by more than 76 points or 1.36 percent to settle at 5,572, the lowest level since June 21, 2017.
The two other indices of the premier bourse also ended lower. The DS30 index, comprising blue chips, fell 17.36 points to finish at 2,085 and DSES (Shariah) index slumped 11.08 points to settle at 1,322.
Trading activities, however, increased and the total turnover on the major bourse amounting to BDT 3.52 billion, which was 45 percent higher than the previous day’s turnover of BDT 2.42 billion.
The losers took a strong lead over the gainers as out of 337 issues traded, 268 closed lower, 50 ended higher and 19 issues remained unchanged on the DSE trading floor.
Square Pharmaceuticals topped the day’s turnover chart with shares worth BDT 117 changing hands, followed by Grameenphone, Doreen Power, IFAD Autos and Brac Bank.
Central Insurance was the day’s best performer, posting a gain of 7.28 percent while CAPM BDBL Mutual Fund-1 was the day’s worst loser, losing 9.27 percent.
CHITTAGONG STOCK EXCHANGE:
Port city bourse CSE also saw major correction with the CSE All Share Price Index – CASPI – slumping by 212 points to settle at 17,237 points and Selective Categories Index – CSCX – shedding 129 points to finish at 10,412 points.
Here too, the losers beat the gainers as 180 issues closed lower, 30 ended higher and 17 remained unchanged on the CSE.
The port city bourse traded 5.69 million shares and mutual fund units worth more than BDT 281 million in turnover.