Dhaka, Bangladesh (BBN)– Bangladesh’s stocks witnessed a mild correction on Wednesday, after a single-day break, as investors booked quick-profit on sector-wise issues.
Brokers said stocks returned to the red as some investors opted for booking profit on stocks which saw sharp gain in recent price upsurge.
The market was in positive territory in the first 30 minutes of trading and prime index crossed 5,900-mark, but profit booking tendency wiped out the early gains.
Following the previous day’s upturn, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid rising trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 36 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 72 points at 10:45am.
After 30 minutes of trading, the DSEX rose more than 36 points while the CSE All Share Price Index (CASPI) of port city’s bourse advanced 70 points at 11:00am.
After 90 minutes of trading, DSEX fell more than 5.0 points while the CSE All Shares Price Index advanced 8.0 points at 12:00 noon.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 23.79 points or 0.40 per cent to settle at 5,839.
The two other indices also saw correction. The DS30 index, comprising blue chips, went down by 11.80 points to close at 2,017 and the DSE Shariah Index (DSES) fell 7.90 points to finish at 1,322.
The daily trade turnover on Dhaka bourse also fell to BDT 10 billion, which was 12 percent lower than the previous day’s BDT 11.39 billion.
A total number of 216,084 trades were executed in the day’s trading session with trading volume of 256.15 million shares and mutual fund units.
The market-cap of the DSE fell slightly to BDT 4,123 billion which was BDT 4,141 billion in the previous day.
The losers took a modest lead over the gainers as out of 345 issues traded, 185 declined, 123 advanced and 37 issues remained unchanged on the DSE floor.
Khulna Power Company dominated the turnover chart with 4.07 million shares worth BDT 283 million changing hands, closely followed by Olympic Industries, Dhaka Bank, JMI Syringes & Medical Devices and United Power.
Eastern Insurance dominated the gainers chart, posting a gain of 9.91 percent gain while Nitol Insurance was the day’s worst loser, losing 8.02 percent.
Port city bourse Chittagong Stock Exchange (CSE) ended lower with the CSE All Share Price Index – CASPI –shedding 54 points to settle at 17,903 points and Selective Categories Index – CSCX –losing 32 points to finish at 10,815.
The losers beat the gainers as 152 issues closed lower, 83 ended higher and 36 remained unchanged.
The port city bourse traded 11.92 million shares and mutual fund units worth BDT 361 million in turnover.