Dhaka, Bangladesh (BBN)– Bangladesh’s stocks witnessed mild correction on Tuesday, after remaining upbeat in the past three days, as risk-averse investors opted for quick-profit.
Meanwhile, the newly listed Evince Textiles continued to suffer losses and topped the loser’s list for the second session in a row, after flying debut on Sunday.
The market opened with a positive note, gaining around 12 points within first 20 minutes of trading, but rest of the session fell steadily, eventually ended marginally lower.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went down by 14.89 points or 0.32 percent to finish at 4,556.93 points, after hitting five months high on Monday.
The two other indices also closed in the red. The DS30 index, comprising blue chips, fell 5.95 points or 0.33 percent to settle at 1,781.31.
The DSE Shariah Index (DSES) also lost 4.55 points or 0.41 percent to close at 1,114.98.
Turnover, the important indicator of the market, also fell to BDT 3.99 billion on DSE, which was 20 percent lower than the previous day’s BDT 4.96 billion.
The losers took a strong lead over the gainers, as out of 324 issues traded, 201 closed lower, 73 closed higher and 50 remained unchanged on the DSE trading floor.
Olympic Industries dominated the turnover chart with shares worth nearly BDT 205 million changing hands, followed by Bangladesh Steel Re-rolling Mills, Islami Bank, ACME Laboratories and Delta Brac Housing Finance Corporation.
Renwick Jajneswar was the day’s best performer, posting a gain of 8.72 percent, while newly listed Evince Textiles was the worst loser for the second running days, plunging by 9.39 percent.
The port city bourse Chittagong Stock Exchange (CSE) also ended marginally lower with its Selective Categories Index- CSCX – falling 20.66 points to finish at 8,524.23 points
Losers beat gainers 145 to 56, with 38 issues remaining unchanged on the port city bourse that traded 8.53 million shares and mutual fund units with a value of BDT 320 million.