Dhaka, Bangladesh (BBN) – The country’s both the bourses ended in the red again on Monday amid fluctuation and streets protest by hundreds of general investors, market operators said.
A continual slide in share prices pulled the key index of the Dhaka Stock Exchange (DSE) on Monday down to a two-year-low.
The DSE started its session on the day with a negative note and the benchmark DSE general index (DGEN) lost almost 40 points within five minutes.
After that it showed a positive trend and gained more than 50 points within next five minutes but ultimately failed to bounce back.
The DGEN came down to 4,638 points after shedding 71 points at the close of Monday’s trade. The benchmark index was 4,643 points on January 4 of 2010.
All shares price index (DSI) lost 1.44 per cent or 56.88 points to close at 3885.71, whereas the DSE-20 blue chip shares also went down by 1.37 per cent or 49.45 points to close at 3536.95.
“If the index hovers below this level for a few days, this may become new resistance level. If we consider distortion in the index caused by GP and other stocks, the original index value would be around 3,500 points,” said LankaBangla Securities in its daily market analysis.
At this level barely any investor has his nose over water, the market analysis said adding that the overall market PE has come down to 11.41, which is the lowest in the region after Pakistan.
Among all major sectors, non-banking financial institutions lost 2.18 percent, whereas banks lost 1.37 percent. Telecommunication, fuel and power and pharmaceuticals lost more than 1.0 percent each.
At the end of the day’s session, out of 257 issues traded, 63 advanced, 178 declined and 16 remained unchanged.
The turnover value stood at BDT 2.34 billion, whereas the value was BDT 2.86 billion in the previous session.
Grameenphone topped the turnover chart with shares worth BDT 117.9 million changed hands.
The day’s other turnover leaders included Beximco Limited, RN Spinning, United Airways, National Bank, Social Islami Bank, United Commercial Bank and Fu-Wang Ceramic.
The top ten gainers were Takaful Insurance, National Life Insurance, Northern Jute, Pragati Life Insurance, BD Autocars, Jamuna Oil, Maksons Spinning, Islamic Finance and Investment, Kay and Que and Aramit Ltd.
On the other hand, the general index of Chittagong Stock Exchange (CSE) shed 251.88 points on Monday to close at 13427.54.
Among 181 issues traded, 26 advanced, 144 declined and 11 remained unchanged on the day.
BBN/SSR/AD-24Jan12-1:25 am (BST)
