Bangladesh’s stocks down on profit booking

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks slipped into the red on Tuesday, snapping a two-day rally, as risk-averse investors opted for profit on quick-gaining stocks.

Following the previous two days’ upward trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower amid slow trading activities.

Within first 15 minutes of trading, the key index of the country’s prime bourse more than 7.0 points while the Selective Category Index of port city bourse lost 4.31 points at 10:15am.

After first 30 minutes of trading, DSEX tried to fight back and gained 6.62 points while the Selective Category Index of port city bourse lost 4.10 points at 10:30am.

After 90 minutes of trading, DSEX, the prime index of the DSE fell 15 points while the Selective Category Index of port city bourse lost 33 points at 12noon.

And rest of the session fell steadily and finally DSEX closed nearly 16 points lower while the Selective Category Index of port city bourse lost 33 points.

DHAKA STOCK EXCHANGE:

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, went down by nearly 16 points or 0.26 percent to settle at 5,898.

The DS30 index, comprising blue chips also fell 5.42 points or 0.25 percent to came down at 2,119 points.

However, the DSE Shariah Index (DSES) stayed positive zone, advancing 0.25 points or 0.01 percent to stand at 1,309 points.

Turnover, the important indicator of the market, also fell to BDT 9.45 billion, which was 20 percent lower than the previous day’s BDT 11.87 billion.

A total of 0.142 million trades were executed on the day with trading volume of 341.96 million shares and mutual fund units on the prime bourse.

The total market capitalisation of the DSE stood at BDT 3964 billion which was BDT 3,967 billion in the previous session.

The losers took a modest lead over the gainers as 330 issues traded, 164 closed lower, 121 closed higher and 45 remained unchanged on the DSE trading floor.

C&A Textile dominated the day’s turnover chart with about 32.73 million shares of BDT 435 million changing hands, followed by BBS Cables BDT 373 million, City Bank BDT 286 million, IFIC Bank BDT 280 million and IFAD Autos BDT 251 million.

Bangladesh Lamps was the day’s highest gainer, posting a 11.64 percent rise following its corporate declaration on the day, while Dulamia Cotton was the worst loser, plunging 4.72 percent.

CHITTAGONG STOCK EXCHNAGE:

The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – losing 33 points to settle at 11,050 points.

Losers beat gainers as 131 issues closed lower, 100 closed higher and 30 remained unchanged on the CSE.

The port city bourse traded 21.60 million shares and mutual fund units’ worth BDT 552 million in turnover.

BBN/SS/ANS