Dhaka, Bangladesh (BBN) – Bangladesh’s stocks finished modestly lower for the second consecutive days on Monday with falling turnover as risk-averse investors continued to book profit.
After witnessing volatility in the opening hour, the market fell steadily rest of the session as investors booked some profit on stocks that saw significant gain in the earlier sessions, closing the market slightly lower.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,689.32, losing 9.31 points or 0.20 percent over the previous session.
Market insiders said a section of investors remained on profit taking mood while some continued to keep close eye on earnings declaration by listed companies.
The two other indices also closed in the red. The DS30 comprising blue chips fell 2.29 points or 0.13 percent to settle at 1,759.95 points.
The DSE Shariah Index (DSES) saw a fractional of 0.66 point or 0.05 percent to close at 1121.75 points.
Turnover, the important indicator of the market, also fell to BDT 4.497 billion, which was 6.15 percent lower than the previous day’s turnover of BDT 5.59 billion.
The losers took a modest lead over the gainers as out of 321 issues traded, 177 closed lower, 95 closed higher and 49 remained unchanged on the DSE trading floor.
Summit Power dominated the DSE turnover chart with some 10.55 million shares worth nearly BDT 367 million changing hands, followed by Singer Bangladesh BDT 175 million, National Bank BDT 148 million and Bangladesh Shipping Corporation BDT 113 million.
Summit Power was the day’s best performer, posting a 9.03 percent gain, while Monno Ceramics was the worst loser, slumping by 5.76 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished slightly lower with its Selective Categories Index- CSCX – shedding 19.13 points to settle at 8,773.45 points.
Lowers beat gainers as 138 issues closed lower, 70 closed higher and 33 remained unchanged on the CSE.
The port city bourse traded 10.07 million shares and mutual fund units’ worth over BDT 279 million in turnover.