Stocks witnessed yet another bearish session, extending the losing streak for the eight sessions, as investors kept their cautiousness intact ahead of Ramadan.
Market insiders said most of the investors were inactive and remained on the sidelines to safeguard their position amid ongoing bearish market trend.
Following the previous seven days’ decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on a positive note in the morning, but failed to sustain as the session progressed.
DSEX, the benchmark index of the DSE, went down by 28.55 points or 0.51 per cent to settle at 5,558.
The DSE Shariah index also lost 5.35 points or 0.40 per cent to settle at 1,301. However, the DS30 index, comprising blue chips, advanced 1.83 points or 0.08 per cent to finish at 2,075.
Bearish sentiment also reflected on the trading activities as the total turnover on the major bourse amounting to Tk 3.78 billion, which was 33 per cent lower than the previous day’s turnover of Tk 5.62 billion.
The losers took a modest lead over the gainers as out of 338 issues traded, 219 closed lower, 75 ended higher and 44 issues remained unchanged on the DSE trading floor.
Western Marine Shipyard topped the day’s turnover chart with shares worth nearly Tk 245 million changing hands, closely followed by United Power, Beximco, Bangladesh Steel Re-rolling Mills, and Queen South Textile.
Standard Insurance was also the day’s highest gainer, posting a gain of 9.92 per cent while Mutual Trust Bank was the day’s worst loser, losing 16 per cent.
Port city bourse CSE also ended lower with the CSE All Share Price Index – CASPI – shedding 65 points to settle at 17195 points and Selective Categories Index - CSCX – losing 35 points to finish at 10,394 points.
Here too, the losers beat the gainers as 154 issues closed lower, 51 ended higher and 26 remained unchanged on the CSE.
The port city bourse traded 6.56 million shares and mutual fund units worth more than Tk 172 million in turnover.
babulfexpress@gmail.com