Dhaka, Bangladesh (BBN)- Stocks at the country’s both bourses — Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) — extended losses on Wednesday despite showing an uptrend in the beginning.
Both the bourses saw a significant fall in turnover today, the first trading day after the three-day countrywide shutdown enforced by the opposition parties.
Dhaka stocks fell sharply on the day for the consecutive two sessions with declining turnover value as investors’ sold-off shares fearing further political instability in coming days.
Starting with an upbeat note, the DSE general index gained more than 50 points within the first half an hour of trading but failed to maintain the upward trend rest of the session and finally ended 108 points lower.
The benchmark General Index of the Dhaka Stock Exchange—(DGEN)—slipped 108.37 points or 2.02 percent to close at 5,248.62.
Out of 266 issues traded on the day, 208 declined, 44 advanced and 14 remained unchanged.
The turnover value decline to BDT 7.55 billion which was 13.6 percent lower compared to BDT 8.74 billion in the previous session.
Grameenphone (GP) continued to top the turnover chart with shares worth BDT 446.46 million changed hands.
The other turnover leaders were LankaBangla Finance, Meghna Petroleum, Square Pharma, GPH Ispat, Jamuna Oil, Beximco Ltd, RN Spinning and MI Cement.
GPH Ispat was the day’s highest gainer posting a rise of 5.61 percent.
It was followed by National Tea Company, Delta Spinning, Information Services Ltd, Dacca Dyeing, ACI Formula, Summit Alliance Port Ltd, MBL First MF, Reliance One S. Alam Cold Rolled Steels Ltd and Tallu Spinning.
The day’s worst losers included Islami Bank, FAS Finance and Investments, GSP Finance, Padma Life Insurance, Premier Leasing, Fourth ICB, Progressive Life Insurance, Meghna Cement, IBBL Mudaraba Perpetual Bond and International Leasing and Financial Services.
Meanwhile, the CSE benchmark index, CSCX, lost over 199 points to close at 9937.63. The index gained 177 points on Monday but lost over 45 points on Tuesday.
Of the issues traded at the CSE, only 29 advanced, 157 suffered losses and 6 remained unchanged.
The Chittagong bourse turnover declined to BDT 661.60 million as against BDT 718.10 million and BDT 703.80 million recorded on Tuesday and Monday respectively.
BBN/SSR/AD-26Apr12-8:25 am (BST)