Dhaka, Bangladesh (BBN)-Bangladesh’s stocks extended their losing streak for the fourth day on Wednesday as investors rushed in panic sell amid ongoing political turmoil across the country.
“Fears over impact of prolonged political unrest might be the reason behind the ongoing skid in stocks,” said LankaBangla Securities in an analysis.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), came down below the 4,800-mark and closed at 4,783.21 points, shedding 73.73 points or 1.52 percent.
The two other indices also fell sharply.
The DS30 index, comprising blue chips dropped by 27.30 points or 1.51 percent to close at 1,774.77 points.
The DSE Shariah Index (DSES) lost 16.00 points or 1.39 percent to close at 1,134.35 points.
Turnover, however, improved to BDT 2.82 billion against BDT 2.47 billion in the previous day as investors went for selling spree.
The losers took a lead over the gainers as out of 309 issues traded, 248 declined, 36 advanced and 25 remained unchanged on the DSE floor.
Newly listed C & A Textiles was the most traded stock with shares worth Tk 425.58 million changing hands followed by Lafarge Surma, National Feed, GP and Envoy Textiles.
ICB Third Mutual Fund was the day’s top gainer, posting a rise of 7.15 percent while National Feed Mills was the day’s worst loser, plunging 10.64 percent.
The port city bourse, Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – lost 120.26 points to close at 8,885.55 points.
Losers beat gainers 195 to 26 with 19 issues remaining unchanged at the port city bourse that traded 11.94 million shares and mutual fund units, turnover value of Tk 326.85 million.
BBN/BB/ANS-21Jan15-6:15pm (BST)