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Dhaka, Bangladesh (BBN) - Bangladesh’s stocks faced mild correction on Wednesday after remaining upbeat in the past two straight sessions as cautious investors booked profit on quick gaining stocks.
Brokers said the market faced natural correction as investor booked short-term profit on stocks that saw significant gains in the past two trading days.
Following the previous day’s new high, both bourses the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower as investors mostly on selling mood.
After 15 minutes of trading, the key index of the country’s prime bourse fell 15.09 points while the Selective Category Index of port city bourse lost 15.41 points at 10:45am.
After 30 minutes of trading, the prime index of the major bourse stands at 5767.64, losing 9.47 points while the Selective Category Index of port city bourse lost 32 points at 11:00am.
And the downward trend sustain till closure of the market amid modest volatility.
The key index of the country’s prime bourse lost 20.20 points while the Selective Category Index of port city bourse shaded 44.71 points at the closing
DHAKA STOCK EXCHANGE:
The benchmark index of the Dhaka Stock Exchange (DSE) went down by 20.20 points or 0.35 per cent to settle at 5,757 points.
The two other indices also edged lower.
The DS30 index, comprising blue chips, also fell 4.49 points or 0.21 per cent to settle at 2139 points.
The DSE Shariah Index (DSES) rose 6.89 points or 0.52 per cent to close at 1,317 points.
However, trading activities increased to BDT 11.15 billion, which was more than 13 per cent higher than the previous day’s value of BDT 9.83 billion.
The losers took a strong lead over the gainers as out of 328 issues traded, 176 closed lower, 118 closed higher and 34 remained unchanged on the DSE trading floor.
City Bank dominated the DSE turnover chart for the second day in a row with shares worth BDT 739 million changing hands, followed by Beximco BDT 591 million, Brac Bank BDT 389 million, IDLC Finance BDT 362 million and Beximco Pharmaceuticals BDT 336 million.
Hakkani Pulp and Paper was the day’s best performer, posting a 9.58 percent gain, while National Tubes was the worst loser, slumping by 6.26 per cent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse, the Chittagong Stock Exchange (CSE), also finished marginally lower with its Selective Categories Index - CSCX - losing 44.71 points to settle at 10,820.
Losers beat gainers as 138 issues closed lower, 90 closed higher and 23 remained unchanged on the CSE.
The port city bourse traded 20.12 million shares and mutual fund units’ worth BDT 646 million in turnover.
BBN/MS/SK