Dhaka, Bangladesh (BBN) – Bangladesh’s stocks finished slightly lower on Sunday as risk-averse investors opted for quick-profit on sector specific stocks in later part of the trading session.
Brokers said the investors sold shares and mutual fund units to pocket some profits on stocks that saw significant rise in the past few sessions, closing the market slightly lower.
The market started with a positive note and the key index of the premier bourse crossed the 4,700-mark at one point, but failed to sustain that level as investors booked profit on sector specific stocks, ultimately ended marginally lower.
At the end of the sesion, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,690.93, shedding 4.25 points or 0.09 percent over the previous session.
The two other indices also closed in the red. The DS30 comprising blue chips fell 2.18 points or 0.12 percent to settle at 1,776.52 points.
The DSE Shariah Index (DSES) also lost 2.40 points or 0.21 percent to close at 1,123.45 points.
Turnover, the important indicator of the market, also fell and the total turnover on the DSE stood at BDT 5.31 billion, which was 22.14 percent lower than the previous session’s eight months highest turnover of BDT 6.82 billion.
The losers took a marginal lead over the gainers as out of 322 issues traded, 139 closed lower, 137 closed higher and 46 remained unchanged on the DSE trading floor.
MJL Bangladesh dominated the DSE turnover chart with shares worth over BDT 237 million changing hands, followed by BSRM Steels, Paramount Textile, Bangladesh Building Systems and LankaBangla Finance.
Paramount Textile was the day’s best performer, posting a rise of 9.47 percent, while Shympur Sugar Mills was the worst loser, slumping by 7.05 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished marginally lower with its Selective Categories Index- CSCX – losing 19.01 points to settle at 8,766.84 points.
Losers beat gainers as 109 issues closed lower, 107 closed higher and 32 remained unchanged on the CSE.
The port city bourse traded 11.89 million shares and mutual fund units’ worth over BDT 303 million in turnover.