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Bangladesh’s stocks back to the red

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Dhaka, Bangladesh (BBN)– Bangladesh’s stocks slipped back to the red on Sunday as risk-averse investors went on selling binge on large-cap shares.

Analysts said stocks fell as investors opted for booking profit on stocks which saw sharp gain in recent price upsurge.

The market started on positive note in the morning but could not sustain the trend as the session progressed amid selling pressure on large-cap shares.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,763, losing 48.18 points or 0.82 percent over the previous day.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 1.41 points to finish at 2,024.

The DSES (Shariah) index also lost 3.12 points to settle at 1,320.

Turnover, another important indicator of the market, stood at BDT 8.12 billion against BDT 7.72 billion in the previous day.

The losers took a strong lead over the gainers, as out of 348 issues traded, 247 closed lower, 72 ended higher and 29 remained unchanged on the DSE trading floor.

United Power topped the day’s turnover chart with 1.62 million shares worth BDT 665 million changing hands, closely followed by Monno Ceramic, Fortune Shoes, Bangladesh Submarine Cable Company and Legacy Footwear.

The port city bourse Chittagong Stock Exchange also closed lower with the CSE All Share Price Index – CASPI – losing 205 points to settle at 17,575 while the Selective Categories Index – CSCX –shedding 125 points to finish at 10,632.

Here too, the losers beat the gainers as 189 issues ended lower, 66 higher and 22 remained unchanged.

The port city bourse traded 8.23 million shares and mutual fund units worth more than BDT 266 million in turnover.

BBN/SSR/SR

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Article source: https://businessnews-bd.net/stocks-back-to-the-red/

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