Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to the red on Tuesday, snapping a five-day winning streak, as risk-averse investors went on late hours profit booking.
Brokers said the investors sold shares and mutual fund units to bag some profits on stocks that saw substantial gains in the past few sessions, sending the market in the red territory.
The market started with an optimistic note in the morning and the key index of the major bourse gained 30 points within first two hours of trading, but rest two hours fell steadily amid profit booking sale pressure, ultimately ended 10.48 points lower.
At the end of the session, the prime index of the DSE went down by 10.48 points or 0.21 percent to settle at 4,931.17 points, after adding nearly more than 80 points in the past five consecutive sessions.
However, the two other indices managed to close in green territory.
The DS30 comprising blue chips advanced 0.35 point or 0.02 percent to finish at 1,797.18 points.
The DSE Shariah Index (DSES) inched 0.08 point higher to close at 1,167.34 points.
Turnover, the most important indicator of the market, came down to BDT 9.33 billion on the DSE, which was 17 percent lower than the year’s third highest turnover recorded on the previous day.
The losers took a strong lead over the gainers as out of 324 issues traded, 175 closed lower, 99 closed higher and 50 remained unchanged on the DSE trading floor.
Beximco dominated the DSE turnover chart with about 13.09 million shares worthBDT 328 million changing hands, closely followed by Bangladesh Building Systems BDT 326 million, Square Pharmaceuticals BDT 272 million, Olympic Accessories BDT 237 million and IFAD Autos BDT 230 million.
Emerald Oil was the day’s highest gainer, posting a 9.86 percent rise, while Pragati Life Insurance was the worst loser, slumping by 7.57 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished slightly lower after five days with its Selective Categories Index – CSCX – losing 4.22 points to settle at 9,212.16 points.
Losers beat gainers as 114 issues closed lower, 106 closed higher and 31 remained unchanged on the CSE.
The port city bourse traded 20.98 million shares and mutual fund units’ worth over BDT 623 million in turnover.