Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to the red on Tuesday, breaking a three-day gaining streak, as risk-averse investors opted to book quick gain.
Analysts said the market backed to the red as retail investors went for booking profits, especially banking sector issues, which triggered a selling pressure in the market.
Following the previous three days’ sharp gain, the Dhaka Stock Exchange (DSE) opened higher while the Chittagong Stock Exchange (CSE) saw negative trend at opening amid rising trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse gained more than 13 points while the CSE All Share Price Index (CASPI) of port city’s bourse fell 20 points at 10:45am.
After 30 minutes of trading, the DSEX advanced more than 27 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 3.0 points at 11:00am.
After 90 minutes of trading, DSEX advanced more than 11 points while the CSE All Shares Price Index gained 30 points at 12noon when the report was filed.
However, the market fell sharply in the final hour of trading, eventually ended more than 37 points lower.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,790 points, shedding 37.23 points or 0.63 percent after gaining 339 points in the past three days.
The two other indices also ended lower. The DS30 index, comprising blue chips, went down by 10.72 points or 0.49 per cent to close at 2,166 points.
The DSE Shariah Index (DSES) fell 4.54 points or 0.33 percent to close at 1,351 points.
Turnover, another important indicator of the market, fell 7.34 percent to BDT 5.55 billion against BDT 5.99 billion in the previous day.
The losers took a strong lead over the gainers as out of 336 issues traded, 218 declined, 91 advanced and 27 issues remained unchanged on the DSE floor.
Beximco dominated the turnover chart with 5.57 million shares worth BDT 150 million changing hands, followed by IFAD Autos, Beximco Pharma, City Bank and Lafarge-Holcim.
Monno Jute Stafflers was the day’s best performer, posting a gain of 7.49 percent while Nitol Insurance was the worst loser, losing 8.36 percent.
CHITTAGONG STOCK EXCHANGE:
Port city bourse CSE also backed to the red with the CSE All Share Price Index – CASPI – shedding 132 points to settle at 17,848 points and Selective Categories Index – CSCX – losing 80 points to finish at 10,788 points.
Here too, the losers beat the gainers as 143 issues closed lower, 75 ended lower and 17 remained unchanged.
The port city bourse traded 11.04 million shares and mutual fund units worth nearly BDT 299 million in turnover.