BBN file photo

Dhaka, Bangladesh (BBN)– Bangladesh’s stocks fell significantly on Tuesday as investors continued their selling spree.

The prime index of the Dhaka Stock Exchange (DSE) came down below the 5,300-mark further on Tuesday on the same ground, market operators said.

DSEX, the prime index of the DSE, went down by 52.08 points or 0.97 per cent to settle at 5,289.

DSEX eroded 105 points within two consecutive sessions after recovering 219 points in the previous three days following the government’s steps.

Stocks fell further as most of the investors selling shares amid disappointing quarterly earnings a number of companies during the trading session, they added.

The market opened at 10:00am instead of 10:30am and continued until 2:00pm instead of 2:30pm as the bourses rescheduled trading time during Ramadan.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 19.39 points to finish at 1,861 and the DSE Shariah Index lost 11.16 points to close at 1,222.

Turnover, another important indicator of the market, , also fell to BDT 4.33 billion, which was 7.28 per cent lower than the previous day’s turnover of BDT 4.67 billion.

The market started with upbeat note but within half an hour saw a sharp fall though some reversal attempts but profit booking tendency of the risk-averse investors pushed down the market.

The large-cap sectors saw correction with food posted the highest loss of 2.20 per cent, followed by financial institutions with 1.50 per cent, telecommunication 1.40 per cent, engineering 1.10 per cent, banking 0.60 per cent, pharma 0.60 per cent, and power 0.60 per cent.

The losers took a strong lead over the gainers as out of 347 issues traded, 262 declined, 57 advanced and 28 issues remained unchanged on the DSE trading floor.

A total number of 117,827 trades were executed in the day’s trading session with trading volume of 121.47 million securities.

The market capitalisation of the DSE also fell to BDT 3,893 billion on Tuesday, from BDT 3,930 billion in the previous day.

Fortune Shoes topped the turnover chart again with 8.39 million shares worth BDT 324 million changing hands.
The other turnover leaders were Power Grid Company, Bangladesh Shipping Corporation and Esquire Knit Composite.

Monno Ceramic Industries was the day’s best performer, posting a gain of 5.98 per cent while Eastern Bank was as the worst loser, losing 15.66 per cent following its price adjustment after record date.

On the other hand, Chittagong Stock Exchange ended lower with its CSE All Share Price Index – CASPI –shedding 163 points to settle at 16,231 points and the Selective Categories Index – CSCX –losing 99 points to finish at 9,825.

Here too, the losers beat gainers, as 161 issues closed lower, 47 ended higher and 18 remained unchanged on the CSE.

The port city bourse traded 7.69 million shares and mutual fund units worth BDT 265 million in turnover.