Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their losing streak for the fourth day in a row on Monday as cautious investors continued their selling frenzy.
Brokers said the market witnessed another setback as investors continued their selling binge, following the central bank’s concern over the recent bullish momentum in the capital market.
Effective surveillance is necessary so that the process of recovery from the bearish trend since 2010 remains under the regulator’s control, the central bank said in its latest monetary policy statement.
“Otherwise, investors will seriously be affected like previous times,” Bangladesh Bank Governor Fazle Kabir said while announcing the monetary policy for the second half of the fiscal year on Sunday.
DSEX, the key index of DSE sheded 79.65 points while the Selective Category Index of port city bourse lost 119.33 points at the closing.
After witnessing high volatility throughout the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5421.21, shedding 79.65 points or 1.45 per cent over the previous day.
The two other indices also closed lower.
The DS30, comprising blue chips, fell 24.78 points or 1.24 per cent to close at 1978.46.
The DSE Shariah Index (DSES) plunged 14.73 points or 1.16 per cent to finish at 1,260.06 points.
Turnover, the most important indicator of the market, also came down to BDT 10.75 billion, which was 5.45 per cent lower than the previous day’s BDT 11.37 billion.
The losers took a strong lead over the gainers as 327 issues traded, 249 closed lower, 68 closed higher and 10 remained unchanged on the DSE trading floor.
Baraka Power dominated the DSE turnover chart with about 10.67 million shares of BDT 482 million changing hands, followed by Ratanpur Steel Re-rolling Mills, Islami Bank, Beximco and LankaBangla Finance.
Baraka Power was the day’s highest gainer, posting 9.0 percent rise, while Peninsula Chittagong was the worst loser, plunging by 9.30 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX –shedding 119.33 points to settle at 10182.58.
Losers beat gainers as 180 issues closed lower, 62 closed higher and 14 remained unchanged on the CSE.
The port city bourse traded 31.58 million shares and mutual fund units’ worth BDT 718 million in turnover.