Dhaka, Bangladesh
Bourses extend losing streak

Bourses extend losing streak

News Report Stock markets extended the losing streak for the second straight session on Tuesday as risk-averse investors continued their selling spree on sector-wise shares. Market opened on negative note and the downward trend continued until end of the session amid modest volatility. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,236, losing 39.29 points or 0.74 per cent over the previous session. Two other indices also edged lower. The DS30 index, comprising blue chips, fell 10.58 points to finish at 1,822 and the DSE Shariah Index shed 3.93 points to close at 1,195. Turnover, another important indicator of the market, also fell to Tk 3.51 billion, which was 9.30 per cent lower than the previous day’s turnover of Tk 3.87 billion. The losers took a strong lead over the gainers as out of 347 issues traded, 217 declined, 87 advanced and 43 issues remained unchanged on the DSE trading floor. A total number of 101,622 trades were executed in the day’s trading session with trading volume of 108.44 million securities. The market capitalisation of the DSE came down to Tk 3,859 billion on Tuesday, from Tk 3,871 billion in the previous session. The port city bourse, Chittagong Stock Exchange, also ended lower with its CSE All Share Price Index – CASPI –shedding 95 points to settle at 16,007 and the Selective Categories Index - CSCX –losing 56 points to finish at 9,691. Here too, the losers beat gainers, as 141 issues closed lower, 66 ended higher and 31 remained unchanged on the CSE trading floor. The port city bourse traded 16.72 million shares and mutual fund units worth Tk 360 million in turnover. Market analysts said the investors continued to opt to book quick-gain on shares that witnessed price surges over the last few sessions. Stock markets on Monday witnessed a bearish session as all indices on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) returned to red breaking a two-day gaining streak. Turnover, a key indicator of the market, declined to Tk 387.73 crore from Sunday’s Tk 443.56 crore, on the DSE. The bourse traded a total of 13.19 crore shares on the day. The broader DSEX index of Dhaka Stock Exchange (DSE) closed the day with 59.56 points down at 5,276.14. The Shariah DSES and the blue-chip DS30 also followed the same trend with 15.97 points down at 1,833.37 and with 16.48 points down at 1,833.37. At DSE, out of the day’s 342 securities, prices of 50 securities closed higher against 262 losing issues. The Chittagong Stock Exchange (CSE) closed the day of the week with downward trend with its major CASPI 204.09 points down at 16,102.95. At CSE, 239 issues were traded. Of those, 46 closed higher and 166 closed lower when 52.08 lakh shares worth Tk 10.66 crore changed hands. On Sunday, stock markets started the week in a positive mood as investors showed their buying appetite on large-cap shares amid positive expectation. Market analysts said the central bank’s market supportive measures which widened the banks’ scope to invest in the stock market, created hype among investors. The Bangladesh Bank issued a circular on Thursday for exempting banks’ investments in non-listed companies from capital market exposure, a move that can give banks plenty of room for fresh investments in the stock market. The market opened on upbeat note and the upbeat trend continued until end of the session with no sign of reversal. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by nearly 105 points or 2.0 per cent to settle at 5,335. Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 31.64 points to finish at 1,849 and the DSE Shariah Index rose 17.56 points to close at 1,215. Turnover, another important indicator of the market, also increased to Tk 4.43, which was 52 per cent higher than the previous day’s turnover of Tk 2.90 billion. The gainers took a strong lead over the losers as out of 344 issues traded, 271 advanced, 45 declined and 28 issues remained unchanged on the DSE trading floor. The port city bourse, Chittagong Stock Exchange, also ended higher with its CSE All Share Price Index – CASPI –soaring 305 points to settle at 16,307 and the Selective Categories Index - CSCX –rising 184 points to finish at 9,871. Here too, the gainers beat losers, as 179 issues closed higher, 34 ended lower and 22 remained unchanged on the CSE trading floor. The port city bourse traded 19.07 million shares and mutual fund units worth Tk 323 million in turnover. Earlier, stocks ended last week in down-trend with falling trends of all major price indices at Dhaka and Chittagong Stock Exchanges as the daily transactions declined amid volatility in large-cap securities. The broader DSEX of the DSE finished the week with 45.05 points down at 5,230.79. The blue-chip DS30 and Shariah DSES also followed the same trend with 33.14 points down at 1,851.35 and with 22.74 points down at 1,197.56 respectively. Out of the 353 issues traded on DSE, 122 gained against 195 losing issues. During the week, the daily average trade value declined by 31.86 per cent to Taka 292.30 crore and the average trade volume fell by 18.68 per cent to 10.33 crore shares when majority of the traded issues closed up. Chittagong Stock Exchange (CSE) also closed the week down, with its major CASPI index ending 184.71 points lower at 16,001.84. Earlier, stocks slipped back into the red on Sunday, the opening day of last week, after a single-session break, as investors booked profits with cautious positioning. Analysts said the market finished nearly flat as a section of investors continued on selling binge while some others were busy rebalancing portfolio amid ongoing earnings declarations. The day’s trade value at Dhaka Stock Exchange (DSE) declined to Tk 358.16 crore from Thursday’s Tk 376.22 crore and the daily trade fell to 12.68 crore shares from 12.73 crore shares of the previous session. The broader DSEX index of Dhaka Stock Exchange (DSE) closed the day with 1.91 points down at 5,273.93. The blue-chip DS30 and the Shariah DSES also followed the same trend with 4.86 points down at 1,846.48 and with 1.29 points down at 1,219.02. At the DSE, prices of 153 securities out of the day’s 347 closed higher against 150 losing issues. The Chittagong Stock Exchange (CSE) closed the day in down-trend with its major CASPI 12.64 points down at 16,173.91. At the CSE, a total of 227 issues were traded while 114 closed higher and 95 closed lower as 84.99 lakh shares worth Tk 22.86 crore changed hands. (Inputs taken from agencies)

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