Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to the red on Wednesday, after remaining positive in the past two sessions, as late hours sale pressure wiped out all the early gains.
Following the previous day’s upturn, the market opened higher and the key index of the major bourse reached at 5,774 points, surging nearly 36 points within first hour of trading, but rest of the session fell steadily, ultimately ended 4.17 points lower.
The key index of the Dhaka Stock Exchange (DSE) lost 4.17 points while the Selective Category Index of port city bourse shaded 13.21 points at closing.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), settled at 5,733.24 points, losing 4.17 points or 0.07 per cent over the previous session.
However, the two other indices edged higher.
The DS30 index, comprising the blue-chips advanced 4.69 points or 0.22 per cent, closing at the highest level since its inception on January 2013 at 2,099.89 points.
The DSE Shariah Index (DSES) gained 3.16 points or 0.24 per cent to close at 1,300.54 points.
Turnover, the important indicator of the market, rose to BDT11.34 billion, which was 14 percent higher than the previous day’s BDT 9.96 billion.
The losers took a strong lead over the gainers as out of 327 issues traded, 198 advanced, 89 declined and 40 issues remained unchanged on the DSE trading floor.
City Bank dominated the turnover chart with 17.42 million shares worth nearlyBDT 735 million changing hands, followed by LankaBangla Finance, AB Bank, IDLC Finance and Beximco Pharmaceuticals.
Bangladesh Steel Re-rolling Mills was the day’s top gainer, posting a rise of 5.10 per cent while Fareast Finance was the worst loser, slumping by 6.75 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged lower with its Selective Categories Index – CSCX – losing 13.21 points to settle at 10,775.
Losers beat gainers as 165 issues closed lower, 78 closed higher and 17 remained unchanged on the CSE.
The port city bourse traded 24.41 million shares and mutual fund units worth nearly BDT 835 million in turnover.