Dhaka, Bangladesh (BBN) – Bangladesh’s stocks finished lower on Monday, with key index of the major bourse dipping below 5,700-mark, as investors went on selling spree.
Analysts said the market ended lower with turnover hitting seven weeks low as cautious investors went on selling spree on some large-cap stocks.
Both bourses – the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) closed lower amid low turnover.
The market opened with a negative note and the key index of the Dhaka bourse fell 13.83 points within first 15 minutes of trading.
The key index of the DSE fell 28.30 points, while the Selective Category Index of port city bourse lost 47.30 points at the closing.
The downward trend continued till end of the session, ultimately ended above 28 points lower.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 5,698 points, losing 28.30 points or 0.49 percent over the previous session.
The two other indices also finished lower.
The DS30 index, comprising blue chips, fell 4.87 points or 0.23 per cent to reach at 2,072 points.
The DSE Shariah Index (DSES) also lost 4.76 points or 0.36 per cent to stand at 1,297 points.
Turnover, the important indicator of the market, fell to BDT 7.78 billion, which was 25 percent lower than the previous session’s Tk 10.41 billion.
The losers took a strong lead over the gainers as out of 325 issues traded, 189 closed lower, 97 closed higher and 39 remained unchanged on the DSE trading floor.
LankaBangla Finance dominated the DSE turnover chart with some 6.78 million shares worth BDT 427 million changing hands, followed by Beximco BDT 240 million, ICB BDT 215 million, Ratanpur Steel BDT 205 million and AB Bank BDT 197 million.
Premier Leasing and Finance was the day’s best performer, posting a 7.41 per cent gain following its dividend declaration, while Padma Life Insurance was the worst loser, slumping by 4.46 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also ended lower with its Selective Categories Index – CSCX – losing 47.30 points to settle at 10,711 points.
Losers beat gainers as 79 issues closed lower, 142 closed higher and 18 remained unchanged on the CSE.
The port city bourse traded 22 million shares and mutual fund units’ worth over BDT 689 million in turnover.