Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the losing streak for the six consecutive sessions on Wednesday worried investors continued on selling binge on large-cap shares.
DSEX, the prime index of the Dhaka Stock Exchange, went down by 20.68 points or 0.41 per cent to settle at six weeks low at 4,986.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 10.70 points to finish at 1,748 and the DSE Shariah Index lost 8.35 points to close at 1,158.Turnover, a crucial indicator of the market, also fell to BDT 3.75 billion, which was 5.0 per cent lower than the previous day’s BDT 3.95 billion.
Five heavyweights stocks — Grameenphone, BATBC, Square Pharmaceuticals, GlaxoSmithKline and United Power-led the day’s slump, contributing more than 25 points fall, according to market operators.
The slide began when the news emerged that fiscal 2019-2020 budget was passed in parliament on June 30, 2019 without any significant incentive for stocks and the market had hardly rebounded since then.
The government’s supportive measures, including redefining the banks’ capital market exposure and amending public issues rules, also failed to boost the fund flow.
On the other hand, the Chittagong Stock Exchange closed lower with its All Shares Price Index (CAPSI) — CASPI– losing 88 points to close at 15,213 and the Selective Categories Index – CSCX – shedding 54 points to finish at 9,235.