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Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their losing spell for the third running sessions on Sunday, as cautious investors continued on profit booking mood on quick-gaining stocks.

Analysts said investors continued preferred to pocket profit on stocks that saw substantial gains in the past few weeks.

“The news of extending the share transactions from investors’ accounts, which were suffering with negative equity burden since the market crash in 2010-11 for another 16 months till December 31, 2018, couldn’t attract the investors to remain buoyant on the trading floor,” said an analyst at a leading brokerage firm.

The market opened with a positive note, gaining more than 25 points within first 20 minutes of trading, but rest of the session fell steadily, finally ended nearly 42 points lower.

Dhaka Stock Exchange:

DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, went down by 41.84 points or 0.71 per cent to settle at 5,819 points.

The two other indices also closed lower. The DS30, comprising blue chips, fell 10.31 points or 0.49 per cent to close at 2,099 points.

The DSE Shariah Index (DSES) lost 3.13 points or 0.24 per cent to finish at 1,301 points.

The turnover, an important indicator of the market, stood at BDT 7.69 billion on the DSE, which was 7.57 per cent

lower than the previous day’s mark of BDT 8.32 billion.

The losers took a strong lead over the gainers as out of 330 issues traded, 198 closed lower, 92 closed higher and 40 remained unchanged on the DSE trading floor.

The newly listed BBS Cables dominated the DSE turnover chart for the third straight days with about 4.42 million shares of BDT 591 million changing hands, closely followed by IFAD Autos, Active Fine Chemicals, ACME Laboratories and ACI Limited.

Monno Ceramics was also the day’s highest gainer, posting a 9.83 per cent rise, while Pubali Bank was the worst loser, plunging 6.38 per cent.

Chittagong Stock Exchange:

The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – losing nearly 76 points to settle at 10,927 points.

Losers beat gainers as 159 issues closed lower, 74 closed higher and 17 remained unchanged on the CSE.

The port city bourse traded 11.77 million shares and mutual fund units’ worth BDT 371 million in turnover.
BBN/SS/ANS