Dhaka, Bangladesh (BBN)– Bangladesh stocks displayed a free fall for the second consecutive session on Monday because of selling pressure spurred on major sectors including the bank and financial institutions.
The benchmark index of the Dhaka Stock Exchange (DSE) lost 122.4 points in last two sessions amid shaky investors’ confidence.
The market started the session with negative note and no recovery stance was visible throughout the whole session.
At the end of the session, the DSE broad index (DSEX) closed at 5,705.57 points with a loss of 1.17 per cent or 67.79 points.
The shariah based index DSES lost 0.95 per cent or 13.03 points to close at 1,350.75 points, while the blue chip index DS30 closed at 2,107.44 points with a loss of 0.88 per cent or 18.73 points.
Of 333 issues traded on the day, 30 advanced, 273 declined and 30 were unchanged on the premier bourse.
“Most of the investors opted for liquidating their position amid ongoing liquidity crisis in the banking sector and tempestuous capital market behaviour,” International Leasing Securities said in its post-session observation.
Engineering, bank, financial institution, fuel & power and pharmaceuticals & chemicals sectors observed the most selling pressure, it added.
The turnover stood at more than BDT 2.98 billion, 26 per cent higher than the turnover of the previous session.
Of the declining sectors, bank lost 1.6 per cent, engineering 1.7 per cent, financial institutions 2.1 per cent, fuel & power 0.9 per cent, pharmaceuticals & chemicals 0.7 per cent, telecommunication 0.6 per cent and textile 1.8 per cent.
Investors’ participation was mostly concentrated on banking sector which grabbed 15.40 per cent of the market turnover, followed by engineering 15.1 per cent, textile 11.6 per cent and pharmaceuticals & chemicals 9.2 per cent.
Top gainers’ list was dominated by small-cap stocks while top losers’ list was dominated by ‘Z’ category stocks.
ICB AMCL Second Mutual Fund was the number one gainer with a rise of 3.84 per cent to close at BDT 8.1, while Sonargaon Textiles was the worst loser after declining 9.70 per cent to close at BDT 21.40.
Meanwhile, the Chittagong Stock Exchange (CSE) also witnessed a free fall on Monday as majority number of listed securities closed in red.
Out of 218 issues traded, only 14 advanced, 191 declined and 13 remained unchanged on the port city bourse CSE.
At the end of the session, the benchmark index CASPI witnessed a loss of 228 points to close at 17,647 points and the turnover stood at above BDT 473 million on the port city bourse.
Earlier on Sunday, Bangladesh’s stocks witnessed sharp fall following poor participation in share trading activities by the investors.