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Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended the losing streak for the two consecutive sessions on Thursday as risk-averse investors continued their selling binge on quick-gaining stocks.
Analysts said the market faced another downbeat session as risk-averse investors preferred to book quick-gain on their investment over the recent price surge.
The market started with a downward trend and the downturn continued till end of the session with no sign of reversal, finally ended more than 14 points lower.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) finished at 5,476, shedding 14.13 points or 0.25 percent over the previous day.
The two other indices also finished marginally lower. The DS30 index, comprising blue chips fell 6.79 points or 0.33 percent to finish at 2037 points.
The DSE Shariah Index (DSES) lost 4.35 points or 0.34 percent to close at 1,268 points.
Turnover, another important indicator of the market, also came down to BDT 5.17 billion, which was 8.82 percent lower over the previous day’s BDT 5.67 billion.
Losers took a modest lead over the gainers, as prices of 156 securities declined, 114 advanced and 59 remained unchanged out of the 329 issues that were traded on the DSE floor.
Beximco Pharma topped the DSE turnover chart with about 2.13 million shares worth BDT 245 million changing hands, followed by Paramount Textile, Active Fine Chemicals, MJL Bangladesh and United Power.
Aamra Technologies was the day’s highest gainer, posting 4.10 percent gain, while Eastern Insurance was the worst loser, losing 5.21 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed marginally lower with its Selective Categories Index – CSCX – losing 18 points to settle at 10,280.
Losers beat gainers as 118 issues closed lower, 84 closed higher and 36 remained unchanged on the CSE.
The port city bourse traded 11.81 million shares and mutual fund units’ worth BDT 1.33 billion in turnover.