Bangladesh's stocks

Investors are in despair as Bangladesh’s stocks nosedive. BBN file photo

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended losing streak for the second day in a row on Sunday with lower turnover as investors were mostly cautions amid ongoing earnings declaration session.
Dealers said a section of investors preferred to book quick-gain while some were busy with rebalancing their portfolio amid ongoing earnings declaration session, taking the market to the red zone for second day.
Following the previous day’s mild correction, the market opened lower and the downward trend continued till end of the session amid modest volatility and finally ended more than 13 points lower.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), settled at 5,802, shedding 13.02 points or 0.22 percent over the previous session.
Two other indices also edged down. The DS30 index, comprising the blue-chips, fell 2.29 points or 0.10 percent to finish at 2,127 points.
The DSE Shariah Index (DSES) also dropped sharply by 6.84 points or 0.52 percent to close at 1,311 points.
Turnover on the DSE came down to BDT 6.02 billion, which was more than 15 percent lower than the previous day’s turnover of BDT 7.12 billion.
A total number of 0.098 million trades were executed in the day’s trading session with trading volume of 176.41 million securities.
The total market capitalisation of the DSE came down to BDT 3,922 billion, from all-time high of BDT 3,931 billion in the previous session.
Losers took a strong lead over the gainers as 329 issues traded, 191 closed lower, 101 closed higher and 37 remained unchanged on the DSE trading floor.
City Bank topped the turnover chart with about 8.31 million shares of BDT 321 million changing hands, closely followed by LankaBangla Finance BST 212 billion, IDLC Finance BDT 209 million, ONE Bank BDT 173 million and Lafarge Surma Cement BDT 156 million.
Dutch-Bangla Bank was the day’s highest gainer, posting a 9.46 percent rise, while Pragati Life Insurance was the worst loser, losing by 12.86 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – losing 37 points to settle at 10,860 points.
Losers beat gainers as 152 issues closed lower, 72 closed higher and 26 remained unchanged on the CSE.
The port city bourse traded 11.88 million shares and mutual fund units’ worth BDT 363 million in turnover.