Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended the losing streak for the five consecutive sessions on Tuesday as cautious investors continued their selling binge on sector-wise issues amid political tension.
Analysts said political tension catering upcoming national election coupled with lower than expected earnings disclosures by a number of companies dampened investors’ confidence.
The market started on positive note and the key index of the Dhaka Stock Exchange rose more than 15 points within first 20 minutes of trading.
But rest of the session went down steadily, finally ended more than 20 points lower.
On the other hand, the Chittagong Stock Exchange (CSE) also witnessed upward trend in early hour of trading.
Within first 15 minutes of trading, the CSE All Share Price Index (CASPI) advanced 8.0 points.
As the time passed, the CSE also experienced nosedive and finally the CSE All Share Price Index – CASPI – lost 51 points.
DHAKA STOCK EXCHANGE
DSEX, the prime index of the Dhaka Stock Exchange, went down by 20.58 points or 0.39 percent, closing the day at 5,204.
Two other indices – the DS30 index and the DSE Shariah Index (DSES) – also closed lower.
The DS30 index, comprising blue chips, fell 5.32 points to finish at 1,842 and the DSE Shariah Index lost 4.29 points to close at 1,200.
Turnover, another important indicator of the market, also dipped below BDT 5.0 billion-mark and amounted to BDT 4.40 billion, which was 18 percent lower than the previous day’s BDT 5.38 billion.
Of the traded issues, 214 closed lower, 79 advanced and 46 securities closed unchanged on the premier bourse.
A total number of 115,786 trades were executed in the day’s trading session on the DSE with trading volume of 105.14 million securities.
The market capitalisation of the DSE also fell to BDT 3,788 billion on the day which was BDT 3,797 billion in the previous session.
Khulna Power Company continued to dominate the DSE turnover chart with 4.92 million shares worth BDT 475 million changing hands.
The other turnover leaders were VFS Thread Dyeing, SK Trims Indutsries, United Power and Pharma Aids.
VFS Thread Dyeing was the day’s best performer, posting a gain of 9.98 percent while Savar Refractories was the worst loser, losing 8.11 percent.
CHITTAGONG STOCK EXCHANGE
The Chittagong Stock Exchange (CSE) also ended lower with its CSE All Share Price Index – CASPI – losing 51 points to settle at 15,979 and the Selective Categories Index – CSCX – shedding 31 points to finish at 9,680.
The losers beat gainers as 157 issues closed lower, 66 ended higher, with 32 issues remaining unchanged on the CSE.
The port city bourse traded 5.99 million shares and mutual fund units worth BDT 169 million in turnover.