Dhaka, Bangladesh (BBN) – Bangladesh’s stocks faced correction on Monday, breaking a three-day winning spell, as cautious investors booked profit on quick-gaining stocks.
Analysts said the risk-averse investors booked quick-profit on large-cap sectors, especially bank and telecommunication issues, taking the market into the red zone.
Following the previous day’s positive movement, the Dhaka Stock Exchange (DSE) the Chittagong Stock Exchange (CSE) opened higher amid rising trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 14 points while the CSE All Shares Price Index of port city bourse rose 29 points at 10:45am.
After 30 minutes of trading, the DSEX rose 13.74 points while CSE All Shares Price Index advanced 48 points at 11:00am.
After 90 minutes of trading, DSEX fell 4.46 points while the CSE All Shares Price Index remained positive with 6.58 points gain at 12noon.
Rest of the session went down steadily; finally the DSEX ended more than 34 points lower while CSE All Shares Price Index closed 92 points down.
DHAKA STOCK EXCHANGE:
DSEX, the key index of the Dhaka Stock Exchange (DSE), went down by 34.43 points or 0.54 percent to settle at 6,302, after hitting record high in the previous day.
The two other indices – the DS30 index and the DSE Shariah Index (DSES) – also followed the suit to close at 2,267 and 1,387 points, after losing 12.36 points and 7.26 points respectively.
Trading activities, however, rose 17 percent to BDT 9.29 billion on the major bourse, from previous session’s BDT 7.91 billion.
The losers took a modest lead over the gainers as out of 328 issues traded, 173 closed lower, 113 closed higher and 42 remained unchanged on the DSE trading floor.
LankaBangla Finance topped the day’s turnover chart with 15.54 million shares of nearly BDT 818 million changing hands, followed by AB Bank, Islami Bank, United Power and Standard Bank.
BD Autocars was the day’s best performer, posting a gain of 7.62 percent while LankaBangla Finance was the day’s worst loser, plunging by 25.68 percent following its price adjustment after record date for rights.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also ended lower with CSE All Shares Price Index (CAPSI) of port city bourse, losing 92.56 points to close at 19,507.
The Selective Categories Index – CSCX – also fell more than 57 points to finish at 11,804.
Losers beat gainers as 122 issues closed lower, 87 closed higher and 38 remained unchanged on the CSE.
The port city bourse traded 17.24 million shares and mutual fund units worth more than BDT 448 million in turnover.