Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to the red on Wednesday, after a single-session break, as late hours’ sale pressure wiped out all of the early gains.
Analysts said the market started the session with an optimistic mood, but failed to continue momentum as investors booked profit from sector specific stocks.
However, active participation of investors from both sides of the trading fence pushed the market turnover to BDT 6.84 billion, which was 21 percent higher than the previous day’s BDT 5.63 billion.
Following the previous day’s marginal gain, the market opened higher and the key index of the major bourse gained nearly 20 points within first hour of trading, but profit booking sale pressure eroded all the early gains.
Finally, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), settled at 5,430, shedding 6.02 points or 0.11 percent over the previous session.
However, the two other indices managed to stay positive. The DS30 index, comprising the blue-chips, advanced 4.34 points or 0.21 percent to finish at 2,002 points.
The DSE Shariah Index (DSES) also saw a fractional gain of 0.22 point or 0.02 percent to close at 1,259 points.
Losers took a modest lead over the gainers as out of 327 issues traded, 155 declined, 120 advanced and 52 issues remained unchanged on the DSE trading floor.
IFAD Autos dominated the turnover chart with 5.70 million shares worth BDT 761 million changing hands, followed by Bangladesh Shipping Corporation BDT 233 million, Paramount Textile BDT 195 million, Doreen Power BDT 192 million and LankaBangla Finance BDT 178 million.
Bangladesh Autocars was the day’s top gainer, posting a rise of 9.09 percent while Fareast Finance and Investment was the worst loser, slumping by 7.15 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged lower with its Selective Categories Index – CSCX – losing 10.22 points to settle at 10,192.
Losers beat gainers as 131 issues closed lower, 88 closed higher and 27 remained unchanged on the CSE.
The port city bourse traded 12.13 million shares and mutual fund units worth nearly BDT 430 million in turnover.