Dhaka, Bangladesh (BBN) – Dhaka stocks plummeted again on Wednesday for the second session amid volatile trading with declining turnover value as investors increased sale pressure.
The market opened with a positive note, gaining more than 50 points within first ten minutes upon resumption of day’s trading. After that, it started to decline amid moderate fluctuation and finally ended more than 105 points lower.
The benchmark General Index, the gauge of Dhaka Stock Exchange— (DGEN), slipped 105.29 points or 2.05 percent to close at 5,020.86.
The losers took a strong lead over the gainers as out of the 259 issues traded, 228 declined, only 27 advanced and four remained unchanged.
Turnover value declined to BDT 5.73 billion, which was 22.35 percent lower compared to BDT 7.38 billion in the previous session.
A total of 110.16 million shares changed hands on the day against 143.58 million in the previous session. The trade deals also decreased to 146,546 against Tuesday’s 176,932.
The total market capitalization of the DSE stood at BDT 2,580.56 billion against BDT 2,618.63 billion in the previous session.
All the sectors closed lower on the day expect cement sector. Cement ended 0.83 percent higher as Aramit Cement and Lafarge Surma Cement’s closed higher on the day.
Non-banking financial institutions (NBFIs) sectors lost 3.9 percent, the most while banks, telecommunications, fuel and power and pharmaceuticals lost 2.36 percent, 1.85 percent, 1.73 percent and 1.05 percent respectively.
Beximco Limited topped the turnover list with shares worth BDT 259.18 million changing hands.
The other turnover leaders were Titas Gas, Lafagre Surma Cement, Grameephone, Jamuna Oil, Peoples Leasing, MJL BD, DESCO, UCBL and United Airways.
AIBL First Mutual Fund was the day’s highest gainer posting a rise of 4.00 percent while BD Lamps was the worst loser.
On the other hand, the Chittagong Stock Exchange (CSE) key index, CSCX, lost over 190.69 points to close at 9327. At the CSE, only 18 advanced, 169 suffered losses and 5 remained unchanged.
BBN/SSR/AD-04Apr12-11:30pm (BST)