Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their losing streak for the second running day on Wednesday as risk-averse investors continued on profit booking mood.
Following the previous day’s mild correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened positive amid rising trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 13 points while the Selective Category Index of port city bourse gained 8.25 points at 10:15am.
After first 30 minutes of trading, DSEX rose 10 points while the Selective Category Index of port city bourse advanced 11 points at 10:30am.
After 90 minutes of trading, DSEX, the prime index of the DSE advanced 0.64 points while the Selective Category Index of port city bourse gained 9.30 points at 12noon.
And rest of the session fell steadily and finally DSEX closed 7.54 points lower while the Selective Category Index of port city bourse lost 20 points.
International Leasing Securities, said, “The market started with optimistic tune as investors continued their buying spree to take positions in sector-specific stocks but the profit booking tendency of risk-averse investors pushed down the market in the later part of the session”.
The stockbroker noted that selling of shares mostly from life insurance, mutual fund and bank sectors contributed to the fall in indices. Some investors preferred sideline which lessened the total market activities by 8.36 percent over last session.
DHAKA STOCK EXCHNAGE:
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, went down by 7.54 points or 0.12 percent to settle at 5,890.
However, the two other indices managed to close positive zone. The DS30 index, comprising blue chips advanced 1.56 points or 0.07 percent to finish at 2,121 points.
The DSE Shariah Index (DSES) also stayed positive zone, advancing 1.89 points or 0.14 percent to stand at 1,311 points.
Turnover, the important indicator of the market, also fell to BDT 8.66 billion, which was 8.36 percent lower than the previous day’s BDT 9.45 billion.
A total of 0.139 million trades were executed on the day with trading volume of 298.39 million shares and mutual fund units on the prime bourse.
The total market capitalisation of the DSE stood at BDT 3,965 billion which was BDT 3,964 billion in the previous session.
The losers took a strong lead over the gainers as 329 issues traded, 186 closed lower, 115 closed higher and 28 remained unchanged on the DSE trading floor.
Generation Next Fashions dominated the day’s turnover chart with about 29.98 million shares of BDT 367 million changing hands, closely followed by C&A Textile BDT 356 million, IFAD Autos BDT 327 million, BBS Cables BDT 298 million and Confidence Cement BDT 235 million.
BD Autocars was the day’s highest gainer, posting a 9.65 percent while National Life Insurance was the worst loser, plunging 12.33 percent.
CHITTAGONG STOCK EXCHNAGE:
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – losing 20 points to settle at 11,038 points.
Losers beat gainers as 151 issues closed lower, 89 closed higher and 24 remained unchanged on the CSE.
The port city bourse traded 20.57 million shares and mutual fund units’ worth BDT 528 million in turnover.