Dhaka, Bangladesh (BBN) – Bangladesh’s stocks slipped into the red on Wednesday, after the prime index of the major bourse reaching record high in the previous day, as cautious investors booked profits on large-cap stocks.
Analysts said late hours selling pressure, especially on banks and Grameenphone shares, pushed down the benchmark index of the Dhaka Stock Exchange (DSE).
The market started with an upward note, gaining nearly 37 points within first hour of trading, but rest of the session fell steadily amid profit booking, finally ended more than 16 points lower.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the DSE, which replaced the DGEN in nearly five years back, went down by 16.43 points or 0.26 percent to settle at nearly 6,236.
The DS30 index comprising blue chips also followed the suit to close at 2,270, losing 7.61 points or 0.33 percent.
However, the DSE Shariah Index (DSES) advanced 5.75 points or 0.42 percent to finish at 1,369.
The market activities also fell 25 percent to BDT 8.83 billion over the previous day’s BDT 11.77 billion.
The gainers took a marginal lead over the losers as out of 325 issues traded, 148 closed higher, 139 closed lower and 38 remained unchanged on the DSE trading floor.
Square Pharmaceuticals topped the day’s turnover chart with 1.36 million shares of more than BDT 399 million changing hands, closely followed by Brac Bank, FAS Finance, Shahjalal Islami Bank and Grameenphone.
Eastern Cables was the day’s best performer, posting a gain of 9.94 percent while Rahim Textile was the day’s worst loser, plunging by 11.40 percent following its price adjustment after record date.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its All Shares Price Index (CAPSI) fell 38 points to close at 19,342 points.
The Selective Categories Index – CSCX – also lost nearly 26 points to close at 11,706.
Gainers beat losers as 118 issues closed higher, 98 closed lower and 25 remained unchanged on the CSE.
The port city bourse traded 12.82 million shares and mutual fund units worth more than BDT 548 million in turnover.