Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended lower on Thursday with the key index of the Dhaka Stock Exchange (DSE) dipping below 5,700-mark as investors went on selling spree, especially on bank and telecom issues.
Brokers said the investors went on selling binge as quarterly earnings and dividend declarations are lower than expected.
The market could not hold the investors’ confidence also as some large-cap companies failed to meet their expectations.
The market opened on a negative note and the downward trend continued till end of the session amid no sign of reversal.
Finally DSEX plunged more than 40 points while the CSE All Share Price Index fell 98 points at closing.
DHAKA STOCK EXCHANGE:
DSEX, the key index of the DSE, settled at 5,698, losing 40.54 points or 0.70 percent over the previous session.
The two other indices also ended lower. The DS30 index, comprising blue chips, shed 15.22 points or 0.71 percent to finish at 2,128. The DSE Shariah Index (DSES) lost 6.27 points or 0.47 percent to close at 1,318.
Bearish sentiment also reflected on the trading activities as total turnover on the DSE amounting to BDT 4.74 billion, which was 20 percent lower than the previous day’s BDT 5.92 billion.
Out of 337 issues traded, 154 closed higher, 149 ended lower and 34 issues remained unchanged on the DSE trading floor.
Beximco topped the turnover chart with shares worth BDT 309 million changing hands, closely followed by Delta Brac Housing Finance BDT 165 million, BBS Cables BDT 163 million, Western Marine Shipyard BDT 131 million and BRAC Bank BST 127 million.
Advent Pharma was the day’s best performer, posting a gain of 9.88 percent while AB Bank was the day’s worst loser, losing 22.58 percent following its No dividend declaration news.
CHITTAGONG STOCK EXCHANGE:
The port city’s bourse CSE also ended lower with the CSE All Share Price Index – CASPI – shedding 98 points to settle at 17,595 and Selective Categories Index – CSCX – losing 58 points to finish at 10,639 points.
The gainers beat the losers as 109 issues closed higher, 100 ended lower and 22 remained unchanged.
The port city bourse traded 9.25 million shares and mutual fund units worth more than BDT 225 million in turnover.