BBN file photo
Dhaka, Bangladesh (BBN)- Bangladesh’s stocks ended lower for the four consecutive sessions on Tuesday as investors went on late hours selling spree.
Analysts said the market maintained the bearish trend as cautious investors continued their selling binge amid ongoing liquidity shortage in the banking sector.
Following the previous three days’ fall, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed positive trend in early trading amid rising trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 40 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 30 points at 10:45am.
After 30 minutes of trading, the DSEX gained more than 43 while the CSE All Share Price Index (CASPI) of port city’s bourse rose 42 points at 11:00am.
After that the early gains eroded steadily as the session progressed finally DSEX lost more than 31 points while the CSE All Share Price Index (CASPI) lost 110 points.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 31.21 points or 0.52 percent to settle at 5,909 points.
Two other indices of the premier bourse also ended lower. The DS30 index, comprising blue chips, fell 15.66 points or 0.71 percent to finish at 2,173 and DSES (Shariah) lost 10.42 points or 0.75 percent to settle at 1,379.
The trading activities remained low as total turnover on the major bourse amounted to BDT 3.91 billion which was 3.71 percent higher than the previous day’s BDT 3.77 billion.
The losers took a strong lead over the gainers as out of 336 issues traded, 191 closed lower, 90 higher and 55 remained unchanged on the DSE trading floor.
Unique Hotel & Resorts topped the turnover chart with shares worth BDT 279 million changing hands, closely followed by Grameephone, Square Pharmaceuticals, LankaBangla Finance and Fu-Wang Food Industries.
Renwick Jajneswar & Company was the day’s highest gainer, posting a gain of 7.34 percent while RAK Ceramic was the worst loser, losing 11.15 percent following its price adjustment after record date.
Port city bourse CSE also ended lower for the fourth day with CSE All Share Price Index – CASPI - losing 110 points to settle at 18,257 and Selective Categories Index - CSCX – shedding 64 points to finish at 11,018.
Here too, the losers beat the gainers as 131 issues closed lower, 67 ended higher and 32 remained unchanged on the CSE.
The port city bourse traded 9.38 million shares and mutual fund units worth BDT 511 million in turnover.
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