Dhaka, Bangladesh (BBN)– Bangladesh’s stocks slipped into the red on Sunday, the first trading session of new fiscal year, as investors booked quick-profit on sector specific stocks.
Market insiders said the market failed to sustain the bullish trend as cautious investors opted for quick-profit on sector specific large-cap stocks in the opening trading session of the new fiscal year (FY) 2017-2018.
Following the previous six days’ rising trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower.
Within first 30 minutes of trading, the key index of the country’s prime bourse fell more than 13 points while the Selective Category Index of port city bourse lost 34 points at 11:00am.
However, the index recovered some early losses as the session progressed, finally closed 1.42 points lower.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) finished at 5,654.62, losing 1.42 points or 0.02 percent over the previous day.
The DS30 index, comprising blue chips also fell 5.05 points or 0.24 percent to settle at 2,078.75.
However, the DSE Shariah Index (DSES) managed to close positive with 0.76 point gain to close at 1,297.51.
Turnover, another important indicator of the market, rose to BDT 8.55 billion, which was nearly 6.74 per cent higher than the previous day’s BDT 8.01 billion.
Gainers took a modest lead over the losers, as prices of 179 securities advanced, 113 declined and 38 remained unchanged out of the 330 issues that were traded on the DSE floor.
Regent Textile topped the DSE turnover chart with about 9.93 million shares worth BDT 313 million changing hands, closely followed by Doreen Power, LankaBangla Finance, AFC Agro Biotech and ICB.
BD Autocars was the day’s highest gainer, posting 9.87 percent gain, while Republic Insurance was the worst loser, losing 4.78 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged lower with its Selective Categories Index – CSCX –losing 10.21 points to settle at 10,581.
Gainers beat losers as 131 issues closed higher, 96 closed lower and 29 remained unchanged on the CSE.
The port city bourse traded 24.43 million shares and mutual fund units’ worth BDT 632 million in turnover.