Dhaka, Bangladesh (BBN) – Bangladesh’s stocks finished lower on Wednesday after choppy trading as risk-averse investors went on late hours selling binge.
Brokers said the some investors went on late hours selling spree, particularly banking, financial institutions and telecommunication sectors.
Meanwhile, due to Bangladesh Securities and Exchange’s silver jubilee, trading on both bourses extended 30 minutes to close the market at 3:00pm instead of usual 2:30pm.
Prime Minister Sheikh Hasina inaugurated the week-long event at the Bangabandhu International Conference Centre on Wednesday.
DHAKA STOCK EXCHANGE
After witnessing volatility throughout the trading session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 14.12 points to settle at 5,529 points.
The DS30 index, comprising blue chips, also fell 6.43 points to finish at 1,932.
However, the DSE Shariah Index advanced 4.32 points to close at 1,275.
Turnover, the most important indicator of the market, however, rose to BDT 8.61 billion, which was 20 percent higher than the previous session’s BDT 7.14 billion.
Of the 333 issues traded, 185 declined, 108 advanced and 40 issues remained unchanged on the DSE trading floor.
A total number of 158,605 trades were executed in the day’s trading session with trading volume of 188.52 million securities.
The market capitalisation of the DSE came down to BDT 3,948 billion on the day which was BDT 3,953 billion in the previous session.
Khulna Power Company topped the turnover chart for the second straight day with 6.99 million shares worth BDT 812 million changing hands.
The other turnover leaders were Active Fine Chemicals, BBS Cables, United Power and Nahee Aluminum Composite Panel.
Intech Limited was the best performer, posting a gain of 10 percent while National Housing Finance was the worst loser, losing 8.45 percent.
CHITTAGONG STOCK EXCHANGE
The Chittagong Stock Exchange (CSE) also edged lower with its CSE All Share Price Index – CASPI – losing 35 points to settle at 17,059 and the Selective Categories Index – CSCX – shedding 22 points to finish at 10,338.
The losers beat gainers as 134 issues closed lower, 91 ended higher and 20 issues remained unchanged on the CSE.
The port city’s bourse traded 10.81 million shares and mutual fund units worth BDT 424 million in turnover.