Bangladesh’s stocks end lower for 10 straight days

Last updated: May 15, 2018

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Dhaka, Bangladesh (BBN) - Bangladesh’s stocks extended the losing streak for ten straight sessions on Tuesday, as investors lingered their selling spree on sector-wise issues ahead of Ramadan.

Analysts said the ongoing pessimism and disappointing quarterly earnings results of most of the companies coupled with upcoming holy month of Ramadan, compelled the investors to cash in on stocks.

Following the nine days’ price correction, the market opened on a positive note, but failed to sustain as the session progressed.

Finally, DSEX fell more than 8.68 points while CSE All Share Price Index lost 23 points at closing.

DHAKA STOCK EXCHANGE:

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 8.68 points or 0.15 percent to settle at 5,548.

The two other indices also maintained the negative trend as the DS30 index, comprising blue chips, fell 3.73 points or 0.18 per cent to finish at 2,072 while the DSE Shariah index lost 0.23 point or 0.02 per cent to settle at 1,300.

The trading activities remained low as the total turnover on the major bourse amounting to BDT 3.55 billion, which was 7.25 percent higher than the previous day’s turnover of BDT 3.31 billion.

The losers took a modest lead over the gainers as out of 334 issues traded, 152 closed lower, 123 ended higher and 59 issues remained unchanged on the DSE trading floor.

Western Marine Shipyard topped the DSE turnover chart for the fourth day with shares worth nearly BDT 279 million changing hands, closely followed by Beximco, United Power, Legacy Footwear and Queen South Textile.

Queen South Textile was the day’s highest gainer, posting a gain of 9.80 percent while Shympur Sugar Mills was the day’s worst loser, losing 5.35 percent.

CHITTAGONG STOCK EXCHANGE:

The port city’s bourse Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI – shedding 23 points to settle at 17,118 points and Selective Categories Index – CSCX – losing 14 points to finish at 10,348.

Here too, the losers beat the gainers as 121 issues closed lower, 78 ended higher and 33 remained unchanged on the CSE.

The port city bourse traded 6.69 million shares and mutual fund units worth more than BDT 298 million in turnover.

BBN/SS/ANS

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