Dhaka, Bangladesh (BBN)-Bangladesh’s stocks extended losing streak for the nine sessions in a row on Sunday with turnover remained sluggish as ongoing pessimism kept investors mostly inactive in the market.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 18.72 points or 0.42 percent to close at 4,344.36 points.
In the last nine consecutive sessions, DSEX lost around 143 points.
The other two indices also ended red. The DS30, comprising blue chips lost 9.12 points or 0.56 percent to close at 1,595.27 points.
The DSES dropped 6.63 points or 0.66 percent to close at 990.26 points.
Trading activities at DSE remained sluggish and total turnover stood at BDT 1.50 billion, registering a decline of 15.25 percent over the previous session’s value.
It was the nine months lowest turnover since BDT 1.10 billion on October 20, 2013.
“Depressed tone extended further as fear of further decline still prevailed in market,” said IDLC Investments.
“Investors’ cashing out tendency ahead of Eid-ul-Fitr prolonged while, fresh fund injection remained in setback,” said the merchant bank.
“Investors’ sentiment still remains shaky as they are unsure about the future market direction,” said LankaBangla Securities.
“The market fell to such level where the investors preferred holding their shares to selling them in the market to avoid huge losses,” said the International Leasing Securities.
Out of 291 issues traded, 179 declined, 63 advanced and 49 remained unchanged on the DSE floor.
Beximco Limited was the most traded stock with shares worth BDT 120.89 million changing hands followed by GP, Lafarge Surma Cement, FAR Chemical and Olympic.
Beximco was also the day’s highest gainer, posting a rise of 8.50 percent while Midas Financing was the day’s worst loser, slumping by 10 percent.
The port city bourse, Chittagong Stock Exchange (CSE), also ended in red zone with its Selective Categories Index – CSCX – lost 34.02 points to close at 8,293.09 points.
Losers beat gainers 148 to 38, with 23 issues remaining unchanged at the port city bourse that traded 4.82 million shares and mutual fund units, turnover value of BDT 135.80 million.
BBN/BB/ANS-13July14-5:00pm (BST)
