Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the losing streak for the second day in a row on Tuesday despite most of the sectors registered an upward trend.
Risk-averse investors showed their selling binge on engineering and power stocks while price appreciation of some large-cap multinational shares saved the index from big fall, according to market operators.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 8.38 points or 0.14 per cent to finish at 5,682.
Four multinational companies — British American Tobacco Bangladesh Company (BATBC), Marico, Reckitt Benckiser and Berger Paints featured in the day’s top ten gainers’ chart.
BATBC was the day’s top gainer, posting 16 per cent rise following its declaration of 500 per cent cash and 200 per cent stock dividend.
Marico Bangladesh, Reckitt Benckiser and Berger Paints also gained 6.25 per cent, 4.99 per cent and 2.25 per cent respectively.
Most of the major sectors saw price hike with food and allied witnessed the highest gain of 11.83 per cent, riding on BATBC, followed by telecom with 2.05 per cent, pharmaceuticals 0.59 per cent, financial institutions 0.10 per cent and banking 0.01 per cent.
The market witnessed sharp rise at opening, gaining nearly 60 points within a minutes. But rest of the session went down steadily and eroded all the initial gains.
According to IDLC Securities, top three positive index contributors were BATBC, Grameenphone and Dutch-Bangla Bank while top three negative index contributors were Monno Ceramic, Islami Bank and Olympic Industries.
On the other hand, the DSES (Shariah) index also lost 5.06 points to settle at 1,303. However, the DS30 index, comprising blue chips, rose 14.88 points to finish at 2013 points.
Turnover, another important indicator of the market, stood at BDT 6.22 billion, which was 23 per cent higher than the previous day’s turnover of BDT 5.06 billion.
A total number of 126,828 trades were executed in the day’s trading session with trading volume of 113.12 million shares and mutual fund units.
The market-cap of the DSE increased to BDT 4,188 billion, from BDT 4,147 billion in the previous day.
The losers took a strong lead over the gainers as out of 345 issues traded, 261 closed lower, 60 ended higher and 24 issues remained unchanged on the DSE trading floor.
Top ten traded stocks captured around 40 per cent of the day’s total turnover with BATBC topped the turnover chart with shares worth Tk 754 million changing hands, followed by Monno Ceramic Industries, United Power, Dutch-Bangla Bank and Bangladesh Submarine Cable Company.
BATBC was also the day’s best performer, posting a gain of 16 per cent following its hefty dividend declaration while Monno Ceramic Industries was the worst loser, losing 8.73 per cent.
On the other hand, Chittagong Stock Exchange also ended lower with the CSE All Share Price Index – CASPI – shedding 47 points to settle at 17,421 while the Selective Categories Index – CSCX -losing 26 points to finish at 10,556.
Here too, the losers beat the gainers as 197 issues closed lower, 44 ended higher and 20 remained unchanged.
The port city bourse traded 4.72 million shares and mutual fund units worth BDT 191 million in turnover.