Dhaka, Bangladesh (BBN)– Bangladesh’s stocks slipped back into the red on Sunday, after a single-day break, as worried investors went selling on sector-wise issues.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 25.87 points or 0.58 per cent to settle at 4,430.
Market insiders said risk-averse investors went on selling binge on selective large-cap issues like Grameenphone, United Power, Renata, BATBC and Olympic Industries, taking the index in the red zone.
The market opened on negative note and the downturn continued until end of the session with no sign of reversal.
Two other indices also ended lower. The DS30 index, comprising blue chips, lost 11.86 points to finish at 1,501 and the DSE Shariah Index shed 10.28 points to close at 987.
Turnover, a crucial indicator of the market, also fell and amounted to BDT 2.71 billion, which was 1.82 per cent lower than the previous day’s turnover of BDT 2.76 billion.
Among the major sectors, telecom faced the highest correction of 3.10 per cent, followed by financial institutions with 1.20 per cent, textile 1.10 per cent pharma 0.62 per cent, power 0.60 per cent and banking 0.40 per cent,
Losers took a strong lead over the gainers as out of 353 issues traded, 203 closed lower, 103 ended higher and 47 remained unchanged on the DSE trading floor.
A total number of 103,707 trades were executed in the day’s trading session with trading volume of 103 million shares and mutual fund units.
The market-cap of the DSE also fell to BDT 3,369 billion on Sunday, from BDT 3,396 billion in the previous session.
Khulna Power topped the turnover chart with shares worth more than BDT 105 million changing hands, closely followed by Ring Shine Textiles, Paramount Textile, Beacon Pharma and Quasem Industries.
Quasem Industries was the day’s best performer, posting a gain of 9.10 per cent while AFC Agro Biotech was the worst loser, losing 9.09 per cent.
On the other hand, the Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI)—shedding 51 points to close at 13,480 and the Selective Categories Index – CSCX –losing 34 points to finish at 8,172.