Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the losing streak for the fourth straight session on Tuesday as risk-averse investors continued on selling spree.
Brokers said election sentiments are in the minds of investors and many of them have taken a cautious stance while rising non-performing loans in the banking sector prompted to sell-off.
The market opened on positive note and the key index rose about 14 points within first 30 minutes of trading. But, rest of the session went down steadily.
DHAKA STOCK EXCHANGE
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 19.93 points or 0.37 percent to settle at 5,275.
DSEX eroded about 86 points in the past four consecutive sessions.
Two other indices-the DS30 index and the DSE Shariah Index (DSES)-also drifted lower.
The DS30 index, comprising blue chips, saw fractional loss of 0.98 point to close at 1,848 and the DSE Shariah Index shed 6.58 points to close at 1,213.
Bearish sentiment also reflected on the trading activities as the total transaction amounting to BDT 4.83 billion, which was 15 percent lower than the previous day’s turnover of BDT 5.68 billion.
A total number of 131,375 trades were executed in the day’s trading session with trading volume of 112.93 million securities.
The market capitalisation of the DSE fell to BDT 3,815 billion on the day which was BDT 3,821 billion in the previous day.
Of the 341 issues traded, 202 declined, 100 advanced and 39 issues remained unchanged on the DSE trading floor.
VFS Tread Dyeing topped the turnover chart with 3.73 million shares worth BDT 234 million changing hands.
The other turnover leaders were SK Trims & Industries, JMI Syringes, Khulna Power and Rupali Life Insurance Company.
Anlimayarn Dyeing was the day’s best performer, posting a gain of 9.85 percent while Information Services Network was the worst loser for the second running session, losing 9.82 percent.
CHITTAGONG STOCK EXCHANGE
The port city bourse, the Chittagong Stock Exchange, also kept losing with its CSE All Share Price Index – CASPI -losing 40 points to settle at 16,162 and the Selective Categories Index – CSCX –falling 24 points to finish at 9,781.
The losers beat gainers as 142 issues closed lower, 70 ended higher and 30 remained unchanged on the CSE.
The port city bourse traded 7.52 million shares and mutual fund units worth more than BDT 198 million in turnover.