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Stocks extended the losing streak for the second day in a row on Thursday, as investors maintained their risk aversion amid poor earnings declarations by a number of companies.
Market insiders said investors followed ‘wait-and-see’ approach and eying on the dialogue between the ruling Awami League and Jatiya Oikyafront leaders scheduled to be held today evening.
“Lower than expected dividend and quarterly earnings declaration some of the companies also held back investors to put fresh fund on stocks,” said a leading broker.
The market started on positive note but later on the investors started to sell shares, eventually ended more than 25 points lower.
DSEX, the prime index of the Dhaka Stock Exchange, went down by 25.65 points or 0.48 per cent, closing the day at 5,258.
Two other indices—the DS30 index and the DSE Shariah Index (DSES)–also faced corrections.
The DS30 index, comprising blue chips, fell 12.68 points to finish at 1,865 and the DSE Shariah Index lost 6.43 points to close at 1,216.
Turnover, another important indicator of the market, also fell and the total turnover amounted to Tk 5.30 billion, which was nearly 3.0 per cent lower than the previous day’s turnover of Tk 5.15 billion.
Of the traded issues, 174 declined, 118 advanced and 50 securities closed unchanged on the premier bourse.
A total number of 131,116 trades were executed in the day’s trading session on the DSE with trading volume of 138.05 million securities.
The market capitalisation of the DSE also rose to Tk 3,831 billion on the day which was Tk 3,842 billion in the previous session.
SK Trims Industries dominated the DSE turnover chart with 5.16 million shares worth Tk 193 million changing hands.
The other turnover leaders were Khulna Power, Intech, United Power and Nurani Dyeing.
KDS Accessories was the day’s best performer, posting a gain of 9.92 per cent while United Insurance was the worst loser, losing 8.79 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its CSE All Share Price Index–CASPI–losing 30 points to settle at 16,161 and the Selective Categories Index - CSCX –shedding 21 points to finish at 9,795.
The losers beat gainers as 102 issues closed lower, 101 ended lower, with 36 issues remaining unchanged on the CSE.
The port city bourse traded 10.12 million shares and mutual fund units worth Tk 316 million in turnover.