Dhaka, Bangladesh (BBN) – Bangladesh’s stocks finished lower for the five consecutive sessions on Sunday, with turnover hitting one month low on the premier bourse, as investors continued on selling binge.
Brokers said the market faced further correction as cautious investors continued on profit booking mood while some adopted ‘wait-and-see’ approach amid ongoing dividend declarations of multinational and financial companies.
The market started with a negative note which continued till end of the session amid modest volatility, ultimately ended 13.66 points lower.
The key index of DSE lost 13.66 points while the Selective Category Index of the port city bourse slumped 37.08 points
DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 5,573.07, losing 13.66 points or 0.50 per cent over the previous session.
The two other indices also ended lower.
The DS30, comprising blue chips, saw sharp fall of 10.17 points or 0.50 per cent to close at 2,011 points.
The DSE Shariah Index (DSES) lost 4.12 points or 0.31 per cent to finish at 1,299.91.
Turnover, the most important indicator of the market, also fell further and amounted to BDT 7.94 billion, which was 4.34 per cent lower than the previous day’s BDT 8.30 billion.
The losers took a strong lead over the gainers as out of 327 issues traded, 188 closed lower, 98 closed higher and 41 remained unchanged on the DSE trading floor.
Baraka Power dominated the DSE turnover chart with about 9.31 million shares worth BDT 482 million changing hands, followed by LankaBangla Finance, Ratanpur Steel Re-rolling Mills, Islami Bank and Shasha Denims.
Matin Spinning Mills was the day’s highest gainer, posting 5.79 per cent gain, while Prime Finance was the worst loser, losing 5.45 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged lower with its Selective Categories Index – CSCX – losing 37.08 points to settle at 10,455.40 points.
Losers beat gainers as 142 issues closed lower, 73 closed higher and 26 remained unchanged on the CSE.
The port city bourse traded 13.63 million shares and mutual fund units’ worth over BDT 436 million in turnover.