Investors are in despair as Bangladesh's stocks nosedive. BBN file photo
Dhaka, Bangladesh (BBN) - Bangladesh’s stocks returned to the red on Wednesday, with prime index of the major bourse slipping below the 6,200-mark, as cautious investors were on selling mood.
Analysts said small investors were cautious about fresh exposure to the market, while institutional investors followed ‘wait-and-see’ strategy ahead of year-closing, taking the core index below 6,200-mark once again.
Following the previous two days’ marginal gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened negative trend with low trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell more than 3.0 points while the CSE All Shares Price Index of port city bourse lost 5.30 points at 10:45am.
After first 30 minutes of trading, the key index of the country’s prime bourse lost 8.14 points while the CSE All Shares Price Index of port city bourse shed 10 points at 11:00am.
After 90 minutes of trading, DSEX fell more than 19 points while the CSE All Shares Price Index lost 59 points at 12noon.
Finally, DSEX fell more than 32 points while the CSE All Shares Price Index DSE core index lost 109 points at closing.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 32.17 points or 0.52 percent to settle at 6,196 after two days gain.
The two other indices finished lower. The DS30 index, comprising blue chips fell 12.71 points or 0.57 percent to close at 2,231.
The DSE Shariah Index (DSES) lost 5.52 points or 0.40 percent to finish at 1,365.
Turnover, the crucial indicator of the market, however, rose 10 percent to BDT 5.12 billion, compared to the previous day’s turnover of BDT 4.65 billion.
Losers took a strong lead over the gainers as out of 331 issues traded, 180 closed lower, 106 closed higher and 45 remained unchanged on the DSE trading floor.
The state-run National Tubes topped the day’s turnover chart with shares of nearly BDT 184 million changing hands, closely followed by Square Pharmaceuticals, Alif Manufacturing Company, Grameenphone and City Bank.
CHITTAGONG STOCK EXCHANGE:
The port city bourse - the Chittagong Stock Exchange - (CSE) also closed lower with CSE All Shares Price Index of - losing 109 points to finish at 19,182.
The Selective Categories Index of the port city bourse – CSCX – also lost nearly 13 points to settle at 11,596 points.
Losers beat gainers as 136 issues closed lower, 75 closed higher and 32 remained unchanged on the CSE.
The port city bourse traded 12.58 million shares and mutual fund units worth BDT 439 million in turnover.
BBN/SS/ANS