Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the losing streak for the third day in a row on Monday as risk-averse investors continued on selling binge.
Dealers said investors were mostly inactive amid persistent liquidity shortage in the banking sector coupled with tension over the final selection of Dhaka bourse’s strategic partner.
Following the previous day’s sharp decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed positive trend in early trading amid low trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 43 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 36 points at 10:45am.
After 30 minutes of trading, the DSEX advanced more than 48 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 58 points at 11:00am.
However, the rest of the session fell steadily finally DSEX ended more than 10 points lower while CASPI shed 56 points down at closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 10.52 points or 0.17 percent to settle at 5,940 points.
Two other indices of the premier bourse also closed in the red. The DS30 index, comprising blue chips, fell 4.61 points or 0.21 percent to finish at 2,189 and DSES (Shariah) shed 4.76 points or 0.34 per cent to settle at 1,389 points.
Bearish sentiment also reflected on the premier bourse’s trading activities as total turnover came down below BDT 4.0 billion-mark and amounted to BDT 3.77 billion which was 14 percent lower than the previous day’s BDT 4.40 billion.
The losers took a modest lead over the gainers as out of 332 issues traded, 176 closed lower, 109 higher and 47 remained unchanged on the DSE trading floor.
CVO Petrochemicals Refinery topped the turnover chart with shares worth BDT 187 million changing hands, closely followed by Unique Hotel & Resorts, Brac Bank, Keya Cosmetics and Monno Ceramic Industries.
Apex Spinning was the day’s highest gainer, posting a gain of 9.59 percent while Republic Insurance was the worst loser, losing 7.16 percent.
Port city bourse CSE also ended in the red for the third day with CSE All Share Price Index – CAPSI – losing 56 points to settle at 18,367 and Selective Categories Index – CSCX – shedding 35 points to finish at 11,83.
Here too, the losers beat the gainers as 136 issues closed lower, 65 ended higher and 22 remained unchanged on the CSE.
The port city bourse traded 7.59 million shares and mutual fund units worth BDT 249 million in turnover.