Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their losing streak for the third day in a row on Wednesday as cautious investors continued their selling binge on sector specific stocks.
Brokers said the market slipped into the red for the three days as some investors remained on profit booking tendency on quick gaining stocks.
The market started with a positive note like previous three days, but could not sustained momentum as the session progressed amid profit booking sale pressure, ultimately ended 15.48 points lower.
The key index of DSEX lost 15.48 points while the Selective Category Index of port city bourse slumped 10.76 points at the closing.
DSEX, the prime index of the DSE, finished at 5,597.22 points, losing 15.48 points or 0.27 per cent over the previous session.
The DS30, comprising blue chips, also fell 4.56 points or 0.23 per cent to close at 2,021.25 points.
However, the DSE Shariah Index (DSES) managed to close positive with fractional gain of 0.15 point or 0.01 per cent to settle at 1305.79 points.
Turnover, the most important indicator of the market, also fell to BDT 9.62 billion, which was 16.49 per cent lower than the previous day’s BDT 11.52 billion.
The losers took a strong lead over the gainers as out of 328 issues traded, 177 closed lower, 96 closed higher and 55 remained unchanged on the DSE trading floor.
Beximco dominated the DSE turnover chart with about 12.08 million shares worth BDT 428 million changing hands, followed by Active Fine Chemicals BDT 346 million, LankaBangla Finance BDT 322 million, Far Chemicals BDT 316 million and CMC Kamal BDT 258 million.
ICB NRB First Mutual Fund was the day’s highest gainer, posting 6.67 percent gain, while Central Insurance was the worst loser, shedding 5.41 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged lower with its Selective Categories Index – CSCX – losing 10.76 points to settle at 10,525.50 points.
Losers beat gainers as 145 issues closed lower, 80 closed higher and 29 remained unchanged on the CSE.
The port city bourse traded 18.28 million shares and mutual fund units’ worth over BDT 542 million in turnover.