Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their losing streak for the three consecutive sessions on Sunday as risk-averse investors continued their selling spree.
Analysts said the market extended the losses as investors sold shares, especially issues from banks, taking the prime index to more than one and a half month low.
Following the previous week’s sharp fall, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) started with an upward trend.
Within first 25 minutes of trading, the key index of the country’s prime bourse advanced more than 30 points while the Selective Category Index of port city bourse gained 35 points at 10:55am.
But, rest of the session went down steadily, finally ended more than 55 points lower.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the DSE, finished at 6,009 points, losing 55.46 points or 0.91 percent over the previous session.
The two other indices — the DS30 index and the DSE Shariah Index (DSES) – also followed the suit to close at 2,193 and 1,322 points, after shedding 3.95 points and 11.54 points respectively.
The bearish sentiment of market also reflected on turnover activity as the total turnover came down to BDT 6.20 billion on the DSE, which was 16.5 percent lower than the previous day’s turnover of BDT 7.43 billion.
A total number of 0.110 million trades were executed in the day’s trading session with trading volume of 173.49 million securities.
The total market capitalisation of the DSE stood at BDT 4,053 billion which was BDT 4,076 billion in the previous trading session.
Losers took a strong lead over the gainers as out of 332 issues traded, 252 closed lower, 62 higher and 18 remained unchanged on the DSE trading floor.
IFAD Autos dominated the day’s turnover chart with 2.06 million shares of BDT 333 million changing hands, closely followed by Uttara Bank, Trust Bank, Brac Bank and Shahjalal Islami Bank.
Eastern Lubricants was the day’s best performer, posting a gain of 7.50 percent while Evince Textiles was the day’s worst loser, plunging by 10.86 percent following its price adjustment after record date.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – plunging by 111 points to close at 11,266.
Losers beat gainers as 179 issues closed lower, 48 closed higher and 14 remained unchanged on the CSE.
The port city bourse traded 14.19 million shares and mutual fund units worth BDT 373 million in turnover.