Dhaka, Bangladesh (BBN)-Bangladesh stocks extended losses for the fifth session in a row on Monday, as worried investors went on heavy sell-offs amid countrywide shutdown enforced by Bangladesh Jamaat-e-Islami.
Both the Dhaka Stock Exchange (DSE), the prime bourse of Bangladesh, and Chittagong Stock Exchange (CSE), the port city bourse of the country, opened with a positive note when the market opened at 10:30am but failed to hold the positive note till the end of the session.
Brokers said, the market plunged as investors failed to predict the future.
The key index of Dhaka Stock Exchange (DSE) dropped 53.36 points while the port city bourse, selective category index of Chittagong Stock Exchange (CSE) slumped 81.87 points at the closing.
The market fell steadily throughout the trading session as the benchmark index of the Dhaka Stock Exchange (DSE), plunged 53.36 points or 1.23 per cent finish at 4,302.58 points.
It was the lowest level of DSEX since May 10, last year.
The DS30 index, comprising blue chips lost 20.32 points or 1.23 per cent to settle at 1,630.82 points.
The DSE Shariah Index (DSES) slumped 12.33 points or 1.16 per cent to close at 1,044.96 points.
Turnover, an important indicator of the market, rose 7.19 per cent to BDT 2.98 billion on the DSE, compared to the previous trading day’s BDT 2.78 billion.
The lowers took a strong lead over the gainers as out of 321 issues traded, 210 closed lower, 70 higher and 41 remained unchanged on the DSE trading floor.
Emerald Oil Industries dominated the turnover chart with shares worth BDT 221 million changing hands followed by Dragon Sweater & Spinning, Keya Cosmetics, AFC Agro Biotech and Bangladesh Steel Re-rolling Mills.
Libra Infusion was the day’s best performer, posting a rise of 7.49 percent while Emerald Oil was the worst loser, slumping by 9.73 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also ended lower for the fifth session with its Selective Categories Index, CSCX, slumping 81.87 points to finish at 8,056.88 points.
Losers beat gainers as 155 issues closed lower, 44 closed higher and 35 remained unchanged on the CSE.
The port city bourse traded 7.61 million shares and mutual fund units worth BDT nearly 196 million in turnover.