BBN file photo

Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended losses for the fourth straight sessions on Sunday as investors were mostly on selling binge.

Analysts said some investors continued their selling spree amid ongoing quarterly earnings while many of them followed cautious stance ahead of monetary policy announcement.

The market opened on positive note and key index of the premier bourse rose about 18 points within first 10 minutes of trading. But, rest of the session went down amid marginal volatility.

Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 25 points or 0.47 percent to settle at 5,280 points.

The two other indices also ended lower. The DS30 index, comprising blue chips, fell 11.74 points to finish at 1,878 and the DSE Shariah Index shed 11 points to close at 1,248.

Turnover, another important indicator of the market, also fell six weeks low and amounting to BDT 5.77 billion, which was 32 percent lower than the previous session’s BDT 8.55 billion.

Of the total 336 issues traded on the DSE trading floor, 197 closed lower, 103 higher and 36 issues remained unchanged.

A total number of 138,433 trades were executed in the day’s trading session on the DSE with trading volume of 140 million securities.

The market capitalisation of the DSE came down to BDT 3,820 billion on Sunday which was BDT 3,832 billion in the previous session.

BBS Cables continued to dominate the DSE turnover chart with 2.17 million shares worth BDT 214 million changing hands.

The other turnover leaders were IFAD Autos, Fortune Shoes, KDS Accessories and Square Pharmaceuticals.

Popular Life Insurance was the day’s best performer, posting a gain of 9.96 percent while Meghna Pet Industries was the worst loser, losing 9.10 percent.

The port city bourse CSE ended lower with its CSE All Share Price Index – CASPI – losing 107 points to settle at 16,265 and the Selective Categories Index – CSCX –losing 68 points to finish at 9,842.

The losers beat gainers as 154 issues closed lower, 63 ended higher, with 23 issues remained unchanged on the CSE.

The port city bourse traded 9.30 million shares and mutual fund units worth more than BDT 287 million in turnover.