Dhaka, Bangladesh (BBN) – Bangladesh’s stocks slipped into the red on Wednesday, snapping a two-day gaining streak, as risk-averse investors sold shares to book profits.
Analysts said earnings and corporate declarations of several companies during the trading session failed to meet investors’ expectation, prompting them to sell shares.
The market started with mixed trend crossing the 5,300-mark within one hour of trading, but rest of the session went through correction.
At the end of the session, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went down by 14.94 points while the Chittagong Stock Exchange (CSE), also edged lower with its CSE All Share Price Index – CASPI –losing 36 points.
DHAKA STOCK EXCHANGE
The benchmark index of the Dhaka Stock Exchange went down by 14.94 points or 0.28 percent, closing the day at 5,284.
The two other indices – the DS30 index and the DSE Shariah Index (DSES) – also saw marginal correction.
The DS30 index, comprising blue chips, fell 1.33 points to finish at 1,878 and the DSE Shariah Index lost 3.95 points to close at 1,222.
Turnover, another important indicator of the market, also fell and the total turnover amounted to BDT 5.15 billion, which was 6.70 percent lower than the previous day’s turnover of BDT 5.52 billion.
Of the traded issues, 189 declined, 111 advanced and 37 securities closed unchanged on the premier bourse.
A total number of 127,894 trades were executed in the day’s trading session on the DSE with trading volume of 148.38 million securities.
The market capitalisation of the DSE also rose to BDT 3,842 billion on the day which was BDT 3,845 billion in the previous session.
Khulna Power Company continued to dominate the DSE turnover chart with 3.67 million shares worth BDT 422 million changing hands.
The other turnover leaders were Square Pharmaceuticals, Summit Power, Nurani Dyeing and VFS Thread Dyeing.
National Life Insurance was the day’s best performer, posting a gain of 9.97 percent while Bay Leasing was the worst loser, losing 9.52 percent.
CHITTAGONG STOCK EXCHANGE
The port city bourse, the Chittagong Stock Exchange (CSE), also edged lower with its CSE All Share Price Index – CASPI – losing 36 points to settle at 16,191 and the Selective Categories Index – CSCX – shedding 23 points to finish at 9,816.
The losers beat gainers as 133 issues closed lower, 82 ended lower, with 24 issues remaining unchanged on the CSE.
The port city bourse traded 8.71 million shares and mutual fund units worth BDT 204 million in turnover.