Investors are in despair as Bangladesh’s stocks nosedive. BBN file photo
Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended the losing streak for the eight sessions in a row on Sunday as investors continued their selling spree on sector-wise stocks ahead of the holy month of Ramadan.
Analysts said most of the investors were inactive and remained on the sidelines to safeguard their position amid ongoing bearish market trend.
Following the previous seven days’ decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on a positive note in the morning.
The markets failed to maintain the morning’s optimistic trend as the session progressed.
Finally DSEX fell more than 28 points while CSE All Share Price Index lost 65 points at closing.
DHAKA STOCK EXCHANGE:
DSEX, the benchmark index of the DSE, went down by 28.55 points or 0.51 percent to settle at 5,558.
The DSE Shariah index also lost 5.35 points or 0.40 percent to settle at 1,301.
However, the DS30 index, comprising blue chips, advanced 1.83 points or 0.08 per cent to finish at 2,075.
Bearish sentiment also reflected on the trading activities as the total turnover on the major bourse amounting to BDT 3.78 billion, which was 33 percent lower than the previous day’s turnover of BDT 5.62 billion.
The losers took a modest lead over the gainers as out of 338 issues traded, 219 closed lower, 75 ended higher and 44 issues remained unchanged on the DSE trading floor.
Western Marine Shipyard topped the day’s turnover chart with shares worth nearly BDT 245 million changing hands, closely followed by United Power, Bximco, Bangladesh Steel Re-rolling Mills, and Queen South Textile.
Standard Insurance was also the day’s highest gainer, posting a gain of 9.92 percent while Mutual Trust Bank was the day’s worst loser, losing 16 percent.
CHITTAGONG STOCK EXCHANGE:
Port city bourse CSE also ended lower with the CSE All Share Price Index – CASPI – shedding 65 points to settle at 17195 points and Selective Categories Index – CSCX – losing 35 points to finish at 10,394 points.
Here too, the losers beat the gainers as 154 issues closed lower, 51 ended higher and 26 remained unchanged on the CSE.
The port city bourse traded 6.56 million shares and mutual fund units worth more than BDT 172 million in turnover.
BBN/SS/ANS
