Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the losing streak for the third day in a row on as risk-averse investors booked profit on sector-wise stocks.
Analysts said the investors remained followed cautious stance amid ongoing quarterly earning disclosures while choppy trading sessions prompted them to cash in on stocks.
The market opened on a negative note and the downward trend continued till end of the session amid choppy trading, finally DSEX ended more than 28 points lower while CSE All Share Price Index fell 16 points at closing.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), settled at 5,777, losing 28.77 points or 0.49 percent over the previous session.
The two other indices also ended in the red. The DS30 index, comprising blue chips, fell sharply by 15 points or 0.69 percent to finish at 2,164.
The DSE Shariah Index (DSES) lost 8.34 points or 0.62 percent to close at 1,340.
Turnover, another important indicator of the market, increased slightly and the total turnover on the DSE amounting to BDT 4.95 billion, which was 2.06 percent higher than the previous day’s BDT 4.85 billion.
The losers took a strong lead over the gainers as out of 339 issues traded, 209 closed lower, 85 ended higher and 45 issues remained unchanged on the DSE trading floor.
Grameenphone topped the turnover chart with 557,145 shares worth over BDT 265 million changing hands, closely followed by United Power, Beximco, BRAC Bank and Al-Arafah Islami Bank.
S. Alam Cold Rolled Steels was the day’s best performer, posting a gain of5.80 percent while Takaful Islami Insurance was the day’s worst loser, losing 11.19 percent following its price adjustment after record date.
Port city bourse CSE also ended marginally lower with the CSE All Share Price Index – CASPI –losing 16 points to settle at 17,822 and Selective Categories Index – CSCX –shedding 9.0 points to finish at 10,767 points.
Here too, the losers beat the gainers as 118 issues closed lower, 78 ended higher and 40 remained unchanged on the CSE.
The port city bourse traded 6.89 million shares and mutual fund units worth more than BDT 320 million in turnover.