Dhaka, Bangladesh (BBN) – Bangladesh’s stocks tumbled at closing on Monday, with key index of the premier bourse dipping below 6,000-mark, as risk-averse went on selling spree.
Analysts said recent earnings and corporate declarations from several listed companies have failed to satisfy investors’ expectation that resulted into selling frenzy.
Following the previous day’s flat session, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower amid low trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell nearly 14 points while the Selective Category Index of port city bourse lost 16 points at 10:45am.
After 30 minutes of trading, the DSE lost 14.45 points while the Selective Category Index of port city bourse fell 25 points at 11:00am.
After 90 minutes of trading, DSEX lost more than 32 points while the Selective Category Index of port city bourse fell 58 points at 12noon.
The downturn continued till end of the session with no sign of reversal, finally ended more than 59 points lower.
DHAKA STOCK EXCHANGE:
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went down by 59.25 points or 0.98 percent to settle at 5,982 over the previous day.
The two other indices — the DS30 index and the DSE Shariah Index (DSES) – also followed the suit to close at 2,175 and 1,325 points, after losing 14.74 points and 7.43 points respectively.
Bearish sentiment also reflected on the turnover activities as total turnover on the DSE came down to BDT 5.23 billion, which was 3.68 percent lower than the previous day’s turnover of BDT 5.43 billion.
Losers took a strong lead over the gainers as out of 332 issues traded, 223 closed lower, 68 closed higher and 41 remained unchanged on the DSE floor.
BBS Cables emerged as turnover leader with about 1.45 million shares of BDT 208 million changing hands, closely followed by Aamra Networks, LankaBangla Finance, Grameenphone and IFAD Autos.
Safko Spinning was the day’s highest gainer, posting a 5.92 percent rise, while Zeal Bangla Sugar Mills was the worst loser, plunging 9.86 percent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – losing 105 points to settle at 11,216.
Losers beat gainers as 158 issues closed lower, 52 closed higher and 23 remained unchanged on the CSE.
The port city bourse traded 23.52 million shares and mutual fund units’ worth BDT 560 million in turnover.