Bangladesh's stocks

Investors are in despair as Bangladesh’s stocks nosedive. BBN file photo

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks closed lower on Thursday, after hitting highest level of the premier bourse’s prime index in the previous day, as risk-averse investors booked quick-profit on sector specific stocks.
Brokers said correction occurred as the market witnessed a substantial gain in the past few trading days, which prompted many investors to book quick-profit.
After hitting all-time high of the premier bourse’s key index in the previous day, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell 3.76 points while the Selective Category Index of port city bourse lost 10.36 points at 10:45am.
After 30 minutes of trading, DSEX lost more than 20 points while the Selective Category Index of port city bourse fell 13 points at 11:00am.
After two hours of trading, DSEX, the prime index of the DSE fell nearly 20 points, while the Selective Category Index of port city bourse lost 30 points when the report was filed at 12:30pm.
The downward trend continued till end of the session, finally, ended 33 points lower.
DSEX, the prime index of the DSE, went down by 33 points or 0.57 percent to settle at 5,750, after adding about 320 points in the past 10 trading sessions.
The two other indices also faced correction. The DS30, comprising blue chips, fell 17.19 points or 0.81 percent to close at 2,104 points.
The DSE Shariah Index (DSES) lost 10.64 points or 0.81 percent to finish at 1307 points.
Trading activities remained encouraging and total turnover stood at BDT 10.05 billion on the country’s premier bourse, which was 14 percent lower than the previous day’s mark of BDT 11.65 billion.
The losers took a strong lead over the gainers as 330 issues traded, 193 closed lower, 92 closed higher and 45 remained unchanged on the DSE trading floor.
Keya Cosmetics dominated the DSE turnover with about 28 million shares of Tk 455 million changing hands, followed by GrameenPhone, ACME Laboratories, Baraka Power and Fu-Wang Food.
Fu-Wang Food was the day’s highest gainer, posting a 9.37 per cent rise, while Standard Insurance was the worst loser, plunging 7.13 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – shedding 48.64 points to settle at 10,776.
Losers beat gainers as 155 issues closed lower, 72 closed higher and 31 remained unchanged on the CSE.
The port city bourse traded 21.52 million shares and mutual fund units’ worth BDT 625 million in turnover.