Dhaka, Bangladesh (BBN)– Bangladesh’s stocks slipped into the red on Monday, snapping a two-day gaining streak, as risk-averse investors went on selling binge on major sectors shares.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 24.83 points or 0.49 per cent over the previous session to close at 5,008.
Three heavyweight five stocks – United Power, BATBC, Khulna Power, BRAC Bank and National Life Insurance led the day’s slump, contributing nearly 48 points DSEX fall jointly.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 8.64 points to finish at 1,758 and the DSE Shariah Index lost 1.97 points to close at 1,169.
Turnover, a crucial indicator of the market, went up slightly to BDT 4.07 billion, which was 10 per cent higher than the previous day’s BDT 3.71 billion.
The investors’ attention was focused on pharmaceuticals sector, accounting for 23 per cent of the day’s total turnover, followed by engineering with 17 per cent and textile 9.0 per cent.
A total number of 125,427 trades were executed in the day’s trading session with trading volume of 95.83 million shares and mutual fund units.
The market-cap of the DSE also fell to BDT 3,747 billion on Monday, from BDT 3,759 billion in the previous session.
The power sector witnessed the highest correction of 2.25 per cent, as the sector heavyweight United Power lost 13.12 per cent, followed by non-bank financial institutions with 0.90 per cent, food 0.79 per cent, engineering 0.76 per cent and banking 0.67 per cent.
Telecommunication and pharmaceuticals sectors gained 2.74 per cent and 0.19 per cent respectively.
On the other hand, the Chittagong Stock Exchange closed lower with its All Shares Price Index (CAPSI) — CASPI– losing 63 points to close at 15,228 and the Selective Categories Index – CSCX – shedding 36 points to finish at 9,247.
Losers beat the gainers as 185 issues closed lower, 50 higher and 21 remained unchanged on the CSE.
The port city bourse traded 5.14 million shares and mutual fund units worth nearly BDT 694 million in turnover.