Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended lower for the second running sessions on Tuesday after witnessing volatility despite a set of budgetary incentives announced for the capital market.
The market moved between positive and negative territory throughout the session, scaring away investors from fresh investments despite ‘market-friendly’ budget announcement.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 28.29 points or 0.62 percent to finish at 4,513.97 points.
The two other indices also ended lower. The DS30 index, comprising blue chips, lost 9.68 points or 0.55 percent to close at 1,738.48 points. The DSE Shariah Index – DSES— dropped 8.25 points or 0.74 percent to end at 1,097.92 points.
Turnover, the crucial indicator of the market, also came down below BDT 5.00 billion and amounted to BDT 4.68 billion, which was 20.13 per cent lower that the previous day’s BDT 5.86 billion.
The losers took a marginal lead over the gainers as out of 312 issues traded, 143 declined, 128 advanced and 41 remained unchanged on the DSE trading floor.
United Airways was the day’s top turnover leader with shares worth BDT 463.09 million changing hands followed by Beximco, KPCL, Summit Power and United Power and Distribution Company.
United Airways was also the day’s top gainer, posting a rise of 9.80 percent while Pioneer Insurance was the worst loser, plunging by 8.80 percent.
The port city bourse Chittagong Stock Exchange (CSE), however closed in mixed trend with its Selective Categories Index – CSCX – gained 7.46 points to close at 8,467.05 points.
Losers beat gainers 120 to 80, with 33 issues remaining unchanged at the port city bourse that traded 23.02 million shares and mutual fund units, turnover value of BDT 658.51 million.