Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended the losing streak for the fourth straight session on Monday, with key index of the major bourse dipping below 6,200-mark, as investors continued their selling binge on sector-wise stocks.
Analysts said small investors were cautious about fresh exposure to the market, while institutional investors followed ‘wait-and-see’ strategy ahead of year-closing, taking the core index below 6,200-mark.
Following the previous day’s sharp decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid rising trading activities.
Within first 30 minutes of trading, the key index of the country’s prime bourse advanced 24 points while the CSE All Shares Price Index of port city bourse rose 43 points at 11:00am when the report was filed.
After 90 minutes of trading, DSEX advanced more than 15 points while the CSE All Shares Price Index rose 34 points at 12noon.
But rest of the session fell steadily and DSEX ended 7.78 points lower while the CSE All Shares Price Index fell 13 points.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 7.78 points or 0.12 percent to settle at 6,196.
The two other indices ended lower. The DS30 index, comprising blue chips fell 3.95 points or 0.17 percent to close at 2,246.
The DSE Shariah Index (DSES) lost 3.67 points or 0.27 per cent to finish at 1,376.
Turnover, the crucial indicator of the market, rose 13 percent to BDT 4.91 billion, compared to the previous day’s six months lowest turnover of BDT 4.32 billion.
Losers took a modest lead over the gainers as out of 333 issues traded, 170 closed lower, 116 closed higher and 47 remained unchanged on the DSE trading floor.
Grameenphone (GP) topped the day’s turnover chart with shares of nearly BDT 190 million changing hands, closely followed by Doreen Power, Baraka Power, Delta Brac Housing Finance and Square Pharmaceuticals.
ICB 2nd NRB Mutual Fund was the day’s best performer, posting a gain of 4.81 percent while Shympur Sugar Mills was the day’s worst loser, plunging by 9.69 percent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse – the Chittagong Stock Exchange – (CSE) also closed lower with CSE All Shares Price Index of – losing 13 points to finish at 19,178 points.
The Selective Categories Index of the port city bourse – CSCX – also lost 8.74 points to settle at 11,595 points.
Losers beat gainers as 121 issues closed lower, 98 closed higher and 30 remained unchanged on the CSE.
The port city bourse traded 8.65 million shares and mutual fund units worth BDT 228 million in turnover.