Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the losing streak for the third straight session on Tuesday as worried investors continued their selling spree on sector-wise shares.
DSEX, the prime index of Dhaka Stock Exchange (DSE), went down by 28.48 points or 0.60 per cent to settle at 4,670—the lowest level since November 15, 2016.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 13.44 points to finish at 1,635 and the DSE Shariah Index lost 7.07 points to close at 1,067.
Turnover, another important indicator of the market, stood at BDT 3.58 billion, which was nearly 17 per cent higher than the previous day’s turnover of BDT 3.05 billion.
The market continued to fall as poor earnings and dividend declarations of several companies failed to meet the investors’ expectations, according to experts.
The recent corporate declarations may not meet investors’ expectation for which, they have exerted sell pressure on sector-specific stocks, they explained.
Losers outnumbered gainers, 197 to 110, while 47 issues remained unchanged on the DSE trading floor.
A total of 108,786 trades were executed in the day’s trading session, with trading volume standing at 134.23 million securities.
The market capitalisation of the DSE also fell to BDT 3,551 billion on Tuesday, from BDT 3,562 billion in the previous session.
National Tubes topped the turnover chart with shares worth BDT 190 million changing hands, followed by Sonar Bangla Insurance, Monno Ceramic, Legacy Footwear and Square Pharma.
Alif Manufacturing Company was the day’s best performer, posting a gain of 21.31 per cent while Intech was the day’s worst loser, plunging by 37 per cent following its ‘no’ dividend declaration.
On the other hand, the Chittagong Stock Exchange also ended lower with its CSE All Share Price Index – CASPI –shedding 140 points to settle at 14,184 and the Selective Categories Index – CSCX –losing 83 points to finish at 8,627.