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Stocks witnessed yet another bearish session Tuesday, extending the losing streak for the four sessions in a row, as investors went on late hours selling spree.
Market insiders said the bourses kept downturn as the largest market cap listed company – Grameenphone’s share plunged 2.74 per cent or Tk 13.90 each to close at Tk 492.80 Tuesday despite the company rolled out 4G.
The market opened higher and the benchmark index of the major bourse gained more than 42 points within first 30 minutes of trading, but rest of the session fell steadily, finally ended more than 31 points lower over the previous session.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 31.21 points or 0.52 per cent to settle at 5,909. DSEX shed about 193 points or 3.16 per cent in the past four consecutive sessions.
Two other indices of the premier bourse also ended lower. The DS30 index, comprising blue chips, fell 15.66 points or 0.71 per cent to finish at 2,173 and DSES (Shariah) lost 10.42 points or 0.75 per cent to settle at 1,379.
The trading activities remained low as total turnover on the major bourse amounted to Tk 3.91 billion which was 3.71 per cent higher than the previous day’s Tk 3.77 billion.
The losers took a strong lead over the gainers as out of 336 issues traded, 191 closed lower, 90 higher and 55 remained unchanged on the DSE trading floor.
Unique Hotel & Resorts topped the turnover chart with shares worth Tk 279 million changing hands, closely followed by Grameephone, Square Pharmaceuticals, LankaBangla Finance and Fu-Wang Food Industries.
Renwick Jajneswar & Company was the day’s highest gainer, posting a gain of 7.34 per cent while RAK Ceramic was the worst loser, losing 11.15 per cent following its price adjustment after record date.
Port city bourse CSE also ended lower for the fourth day with CSE All Share Price Index – CASPI - losing 110 points to settle at 18,257 and Selective Categories Index - CSCX – shedding 64 points to finish at 11,018.
Here too, the losers beat the gainers as 131 issues closed lower, 67 ended higher and 32 remained unchanged on the CSE.
The port city bourse traded 9.38 million shares and mutual fund units worth Tk 511 million in turnover.