Bangladesh's stocks

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

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks slipped into the red on Thursday, breaking a three-day winning spell, as investors opted for profit booking on quick-gaining stocks.
“The market witnessed mild correction as cautious investors opted for booking profit on sector-specific issues, which saw substantial gains in the past few days,” brokers said.
The market witnessed volatility in the first 30 minutes of trading and next 30 minutes went up sharply, crossing the 5,900-mark.
But, rest of the session fell steadily as the risk-averse investors engaged in quick profit booking from sector specific issues, finally closing 10.71 points lower.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 10.71 points or 0.18 percent to settle at 5,880 points, after adding nearly 90 points in the past three consecutive sessions.
The two other indices also closed lower. The DS30 index, comprising blue chips fell 8.54 points or 0.40 percent to finish at 2,123 points.
The DSE Shariah Index (DSES) shed 3.52 points or 0.26 percent to close at 1,312 points.
Turnover, the important indicator of the market fell to BDT 10.78 billion on the DSE, which was nearly 13 percent lower than the previous day’s BDT 12.39 billion.
A total number of 0.150 million trades were executed in the day’s trading session with trading volume of 422.42 million securities.
The total market capitalisation of the DSE also came down to BDT 3,956 billion, from previous day’s record high of BDT 3,965 billion.
Losers took a modest lead over the gainers as 321 issues traded, 165 closed lower, 137 closed higher and 29 remained unchanged on the DSE trading floor.
Generation Next Fashions topped the turnover chart with about 33.46 million shares of BDT 402 million changing hands, closely followed by Saif Powertec, C&A Textile, LankaBangla Finance and City Bank.
Prime Finance First Mutual Fund was the day’s highest gainer, posting a 8.45 percent rise, while Sinobangla Industries was the worst loser, plunging by 7.64 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – losing 25.54 points to settle at 11,013 points.
Losers beat gainers as 141 issues closed lower, 87 closed higher and 30 remained unchanged on the CSE.
The port city bourse traded 30.35 million shares and mutual fund units’ worth BDT 637 million in turnover.