Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed yet another bearish session on Monday, extending the losing streak for the four straight sessions, as investors continued their selling binge on sector-wise stocks.
Analysts said the risk-averse investors continued their selling binge on large-cap sectors, particularly financial stocks, taking the market in the negative territory for the fourth day.
The market showed upward movement in the beginning of the session and key index of the major bourse rose about 15 points within first hour of trading. But rest of the session went down steadily.
On the other hand, Chittagong Stock Exchange (CSE) also finished lower with its CSE All Share Price Index – CASPI – losing 113 points.
Meanwhile, the new issue—share price of ML Dyeing, which made trading debut today, soaring 142 percent to close at BDT 24.20 each at Dhaka bourse, from its issue price of BDT 10 each.
DHAKA STOCK EXCHANGE
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,443, losing 20.36 points or 0.37 percent.
DSEX lost more than 100 points or 1.80 percent in the last four consecutive sessions.
Two other indices also finished lower. The DS30 index, comprising blue chips, fell 8.66 points to end at 1,902 and the DSE Shariah Index shed 4.56 points to close at 1,260.
Turnover, the most important indicator of the market, also fell to 12-session low to BDT 6.96 billion, which was 13.4 percent lower than the previous session’s BDT 8.04 billion.
Of the 338 issues traded, 214 closed lower, 84 higher and 40 issues remained unchanged on the DSE trading floor.
A total number of 147,916 trades were executed in the day’s trading session with trading volume of 164.08 million securities.
The market capitalisation of the DSE stood at BDT 3,906 billion on the day which was BDT 3,903 billion in the previous session.
Khulna Power Company topped the turnover chart for the second day in a row with 7.59 million shares worth BDT 947 million changing hands.
The other turnover leaders were Active Fine Chemicals, IFAD Autos, United Power and Saiham Textile.
CAPM IBBL Islamic Mutual Fund was the best performer, posting a gain of 10 percent while the recently listed VFS Thread Dyeing was the worst loser, losing 7.16 percent.
CHITTAGONG STOCK EXCHANGE
The Chittagong Stock Exchange (CSE) also finished lower with its CSE All Share Price Index – CASPI – losing 113 points to settle at 16,760 and the Selective Categories Index – CSCX – shedding 71 points to finish at 10,158.
The losers beat gainers as 172 issues closed lower, 53 ended higher and 19 issues remained unchanged on the CSE.
The port city’s bourse traded 8.56 million shares and mutual fund units worth BDT 243 million in turnover.