Dhaka, Bangladesh (BBN)– Bangladesh’s stocks finished lower on Monday, with core index of the major bourse dipping below 5,400-mark, as investors opted for booking profits on sector-wise stocks.
Analysts said the market witnessed correction as some investor cash in on stocks ahead of Eid-ul-Azha vacation. Only five trading sessions are left before Eid vacation.
The market opened on upbeat note and the core index rose about 43 points within first 15 minutes of trading. But rest of the session went down steadily.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 28.45 points or 0.52 percent to settle at 5,378 points.
The two other indices ended lower. The DS30 index, comprising blue chips, fell 7.75 points to finish at 1,884 points and the DSE Shariah Index shed 7.84 points to close at 1,228.
The bearish sentiment also reflected on the trading activities as the total turnover fell to BDT 8.18 billion, which was 21 percent lower than the previous day’s BDT 8.18 billion.
Of the 338 issues traded on the DSE trading floor, 200 declined, 102 advanced and 36 issues remained unchanged on the DSE trading floor.
A total number of 141,450 trades were executed in the day’s trading session with trading volume of 181.08 million securities.
The market capitalization of the DSE stood at BDT 3,816 billion on the day which was BDT 3,825 billion in the previous session.
BBS Cables dominated the turnover chart with 3.26 million shares worth BDT 395 million changing hands, followed by IFAD Autos, Shepherd Industries, Dragon Sweater and Lanka Bangla Finance.
Midas Financing was the day’s best performer, posting a gain of 9.66 percent while Zeal Bangla Sugar Mills was the worst performer, losing 9.45 percent.
The port city bourse CSE also closed lower with its CSE All Share Price Index – CASPI –losing 85 points to settle at 16,539 and the Selective Categories Index – CSCX – shedding 52 points to finish at 10,013.
The losers beat gainers 152 issues closed lower, 70 ended higher, with 22 issues remained unchanged on the CSE.
The port city bourse traded 9.38 million shares and mutual fund units worth nearly BDT 328 million in turnover.