Bangladesh
6 years ago

Stocks end marginally lower after choppy trading

Published :

Updated :

Stocks ended marginally lower on Wednesday after volatile trading as cautious investors went on late hours selling binge.

Analysts said the some investors went on late hours selling spree, particularly banking, financial institutions and telecommunication sectors.

Meanwhile, due to Bangladesh Securities and Exchange’s silver jubilee, trading on both bourses extended 30 minutes to close at 3:00pm instead of usual 2:30pm.

Prime Minister Sheikh Hasina inaugurated the week-lomg event at the Bangabandhu International Conference Centre on Wednesday.

After witnessing volatility throughout the trading session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 14.12 points to settle at 5,529.

 “The downward shift in the index is mainly driven by negative changes in the large-cap sectors like banking, financial institutions and telecommunication,” commented LankaBangla Securities.

The DS30 index, comprising blue chips, also fell 6.43 points to finish at 1,932. However, the DSE Shariah Index advanced 4.32 points to close at 1,275.

Turnover, the most important indicator of the market, however, rose to Tk 8.61 billion, which was 20 per cent higher than the previous session’s Tk 7.14 billion.

Of the 333 issues traded, 185 declined, 108 advanced and 40 issues remained unchanged on the DSE trading floor.

A total number of 158,605 trades were executed in the day’s trading session with trading volume of 188.52 million securities.

The market capitalisation of the DSE came down to Tk 3,948 billion on the day which was Tk 3,953 billion in the previous session.

Khulna Power Company topped the turnover chart for the second straight day with 6.99 million shares worth Tk 812 million changing hands.

The other turnover leaders were Active Fine Chemicals, BBS Cables, United Power and Nahee Aluminum Composite Panel.

Intech Limited was the best performer, posting a gain of 10 per cent while National Housing Finance was the worst loser, losing 8.45 per cent.

The Chittagong Stock Exchange (CSE) also edged lower with its CSE All Share Price Index – CASPI – losing 35 points to settle at 17,059 and the Selective Categories Index - CSCX –shedding 22 points to finish at 10,338.

The losers beat gainers as 134 issues closed lower, 91 ended higher and 20 issues remained unchanged on the CSE.

The port city’s bourse traded 10.81 million shares and mutual fund units worth Tk 424 million in turnover.

[email protected]

Share this news