BBN file photo

Dhaka, Bangladesh (BBN)– Bangladesh’s stocks backed to the red zone on Tuesday as investors went late hours selling binge amid lower than expected earnings disclosure of some listed companies.

Analysts said the market backed to the red as many listed companies quarterly earnings data failed to meet the investors’ expectation while some analysing the announced monetary policy statement.

Some 32 listed companies disclosed their un-audited second quarter (Q2) earnings for October-December period of 2017 on Tuesday. Of them, earnings of 17 companies declined while 15 increased in October-December quarter of 2017 compared to the same quarter in the previous year.

Following the previous day’s positive note, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed upturn amid low trading activities.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 23 points while the CSE All Share Price Index (CAPSI) of port city’s bourse gained 14 points at 10:45am.

After 30 minutes of trading, the key index of the DSE gained more than 28 points while the CSE All Share Price Index (CAPSI) rose 30 points at 11:00am.

After first two hours of trading, DSEX went down by more than 14 points while the CSE All Shares Price Index lost 66 points at 12:30pm when the report was filed.

Finally, DSEX lost more than 48 points while CAPSI fell 89 points at closing.

DSEX, prime index of Dhaka Stock Exchange (DSE), settled at 6,127, losing 48.64 points or 0.78 percent over the previous session.

Two other indices of the premier bourse also ended lower. The DS30 index, comprising blue chips, fell nearly 27 points or 1.17 percent to finish at 2,267 and DSES (Shariah) shed nearly 11 points or 0.76 percent to close at 1,414.

Bearish sentiment also reflected on the trading activities as total turnover on the DSE amounting to BDT 3.99 billion, which was 4.0 percent lower than the previous day’s BDT 4.13 billion.

The losers took a strong lead over the gainers as out of 337 issues traded, 201 closed lower, 96 higher and 40 remained unchanged on the DSE trading floor.

Grameenphone (GP) topped the DSE turnover chart with shares worth BDT 293 million changing hands, followed by City Bank, Monno Ceramic Industries, Nahee Aluminum and BF Finance.

Port city bourse CSE also returned to lower with its CSE All Share Price Index – CAPSI- losing 89 points to settle at 18,955 and selective Categories Index – CSCX – falling 52 points to finish at 11,450.

Here too, the losers beat the gainers as 128 issues closed lower, 66 ended higher and 39 remained unchanged on the CSE.

The port city bourse traded 6.43 million shares and mutual fund units worth nearly BDT 322 million in turnover.