Dhaka, Bangladesh (BBN) – Bangladesh’s stocks slipped into the red territory on Wednesday, after a single-day break, as cautious investors went on late hours selling on sector specific issues.
Analysts said most of investors are closely eyeing on the political front as national election nears while lower than expected quarterly earnings disclosures by a number of companies’ prompted them selling shares.
The market started on positive note and the core index rose about 19 points within first hour of trading. But rest of the session went down steadily.
DSEX, the prime index of the Dhaka Stock Exchange, settle at 5,245, shedding 13 points or 0.24 percent over the previous day.
Two other indices—the DS30 index and the DSE Shariah Index (DSES)–also edged lower. The DS30 index,
comprising blue chips, fell 6.49 points to finish at 1,860 and the DSE Shariah Index lost 6.35 points to close at 1,206.
Turnover, another important indicator of the market, however, crossed BDT 6.0 billion-mark and total turnover amounted to BDT 6.31 billion, which was 19 percent higher than the previous day’s BDT 5.31 billion.
Of the traded issues, 138 closed higher, 137 lower and 62 securities unchanged on the premier bourse.
A total number of 149,241 trades were executed in the day’s trading session on the DSE with trading volume of 143.59 million securities.
The market capitalisation of the DSE fell to BDT 3,813 billion on the day which was BDT 3,818 billion in the previous session.
United Power dominated the DSE turnover chart for the second straight day with 1.51 million shares worth BDT 477 million changing hands.
The other turnover leaders were Khulna Power Company, Monno Ceramic Industries, IFAD Autos and SK Trims Industries.
The low-cap companies continued to dominate the gainers chart with Central Pharmaceuticals was the day’s best performer, posting a gain of 10 percent while Tosrifa Industries was the worst loser, losing 9.40 percent.
The Chittagong Stock Exchange (CSE) also saw marginal correction with its CSE All Share Price Index–CASPI–losing 2.62 points to settle at 16,074 and the Selective Categories Index – CSCX –shedding 0.15 points to finish at 9,739.
The gainers beat losers as 106 issues closed higher, 102 ended lower, with 28 issues remaining unchanged on the CSE.
The port city bourse traded 9.10 million shares and mutual fund units worth BDT 259 million in turnover.