Dhaka, Bangladesh (BBN)– Bangladesh’s stocks slipped back to the red on Monday, after a single-day break as risk-averse investors went on selling binge on sector-wise stocks.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 33.72 points to settle at 4,678, after gaining 29 points in the previous day.
The DS30 index, comprising blue chips, fell 11.74 points to finish at 1,626 and the DSE Shariah Index lost 8.62 points to close at 1,074.
The investors have lost confidence in the market for long and the recent fall of the index mounted the crisis among them, according to experts.
Falling portfolio investment in stocks, poor earnings and dividend declaration of most of the companies coupled with the latest remark of Centre for Policy Dialogue (CPD) on capital market hit the market hard, they added.
Net foreign investment in prime bourse remained negative for the eight straight months in October as the overseas investors continued to pull out their fund amid depressed market outlook.
Net foreign investment was negative by BDT 970 million in October as they sold shares worth BDT 3.29 billion against their purchase of shares worth BDT 2.32 billion, the DSE data shows.
Turnover, another important indicator of the market, also fell to BDT 2.69 billion, which was 17 per cent lower than the previous day’s turnover of BDT 3.25 billion.
On the other hand, the Chittagong Stock Exchange, also ended lower with the CSE All Share Price Index – CASPI—losing 75 points to settle at 14,225 and the Selective Categories Index – CSCX –shedding 45 points to finish at 8,645.
Here too, the losers beat gainers, as 160 issues closed lower, 73 ended higher and 30 remained unchanged on the CSE trading floor.
The port city’s bourse traded 4.99 million shares and mutual fund units worth BDT 111 million in turnover.