Investors are in despair as Bangladesh’s stocks nosedive. BBN file photo
Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed yet another bearish session on Wednesday, extending the losing spell for the eleven sessions in a row.
Analysts said the ongoing pessimism and disappointing quarterly earnings results of most of the companies coupled with upcoming holy month of Ramadan continued to prompt investors to cash in on stocks.
Meanwhile, Dhaka bourse signed the much-talked-about share purchase agreement with the Chinese consortium on Monday for strategic partner.
But, the news failed to make any positive impact on trading.
Following the 10 days’ price correction, the market opened on negative note and the downward trend continued till end of the session with no sign of reversal.
Finally, DSEX fell more than 37 points while CSE All Share Price Index lost 110 points at closing.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 37.13 points or 0.69 per cent to settle at 5,511.
The two other indices also followed the suit. The DS30 index, comprising blue chips, fell 16.57 points or 0.79 percent to finish at 2,055 while the DSE Shariah index lost 9.69 point or 0.74 percent to settle at 1,291.
The trading activities remained low as the total turnover on the major bourse amounting to BDT 3.95 billion, which was 11 percent higher than the previous day’s turnover of BDT 3.55 billion.
The losers took a strong lead over the gainers as out of 339 issues traded, 223 closed lower, 71 ended higher and 45 issues remained unchanged on the DSE trading floor.
Western Marine Shipyard topped the DSE turnover chart for the fifth day with shares worth nearly BDT 224 million changing hands, closely followed by United Power, Bangladesh Steel Re-rolling Mills, Beximco and Square Pharmaceuticals.
Monno Jute Stafflers was the day’s highest gainer, posting a gain of 6.9.80 percent while Eastland Insurance was the day’s worst loser, losing 9.72 percent.
CHITTAGONG STOCK EXCHANGE:
The port city’s bourse Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI – shedding 110 points to settle at 17,017 points and Selective Categories Index – CSCX – losing 65 points to finish at 10,288.
Here too, the losers beat the gainers as 157 issues closed lower, 50 ended higher and 25 remained unchanged on the CSE.
The port city bourse traded 8.48 million shares and mutual fund units worth more than BDT 230 million in turnover.
BBN/SS/ANS
