Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended losing streak for the fifth running sessions on Tuesday as risk-averse investors continued on selling spree.
Brokers said the market kept its losing streak as cautious investors sold shares to book profit on stocks that saw substantial gain in the past few weeks, especially banks which dragged down indices.
Following the previous day’s mild correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened positive and witnessed roller coaster ride within optimism.
After two hours of trading, DSEX, the prime index of the DSE rose nearly 6.47 points, while the Selective Category Index of port city bourse rose 16 points when the report was filed at 12:30pm.
Finally, DSEX dropped 1.97 points while the Selective Category Index of port city bourse lost 9.31 points as the session closed.
DHAKA STOCK EXCHANGE:
DSEX, the benchmark index of the DSE, which replaced the DGEN in four-and-a-half-year back, settled at 6,104 points, after losing 1.97 points or 0.03 percent.
The two other indices – the DS30 index and the DSE Shariah Index (DSES) – also followed the plunging suit.
The DS30 index, comprising blue chips fell 3.23 points or 0.15 percent to finish at 2,182 points.
The DSE Shariah Index (DSES) also lost 2.14 points or 0.16 percent to close at 1,355 points.
The market activities stood at BDT 7,152 billion, which was BDT 6,661 in the previous day.
The losers took a strong lead over the gainers as out of 330 issues traded, 180 closed lower, 113 higher and 37 remained unchanged on the DSE trading floor.
The banking sector continued to dominate the turnover chart with Shahjalal Islami Bank Ltd.led the chart with 634.98 million shares changing hands, closely followed by Al-Arafah Islami Bank Ltd BDT 257.54 million, LankaBangla Finance Ltd BDT 232.52 million, Sumit Power BDT 232 million and BSB Cables BDT 225.12 million.
Rupali Bank was the day’s best performer while R.N. Spinning Mills Limited was the day’s worst loser.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – losing 9.31 points to close at 11,447 points.
Losers beat gainers as 142 issues closed lower, 83 higher and 23 remained unchanged on the CSE.
The port city bourse traded shares and mutual fund units worth more than BDT 4.05 million in turnover.