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Stocks slipped into the red on Wednesday, after single-day break, as investors went on late hours selling binge on sector-wise stocks.
Market operators said the market ended lower amid ambiguity over the Dhaka bourse’s share sales to a strategic partner coupled with ongoing liquidity crisis.
Following the previous day’s positive movement, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive.
Within 30 minutes of trading, the DSEX went up by more than 14 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 36 points at 11:00am.
After that the market started to decline as cautious investors went on selling spree, finally the DSEX fell more than 25 points while the CSE All Share Price Index lost 56 points at closing.
DSEX, the core index of the DSE, settled at 5,822, losing 25.62 points or 0.43 per cent over the previous session.
The two other indices also ended in the red. The DS30 index, comprising blue chips, fell 12.23 points or 0.56 per cent to finish at 2,143.
The DSE Shariah Index (DSES) lost 1.84 points or 0.13 per cent to close at 1,373.
The market activities also fell and the total turnover on the DSE amounting to Tk 4.05 billion, which was 5.18 per cent lower than the previous day’s Tk 4.26 billion.
The losers took a modest lead over the gainers as out of 335 issues traded, 175 closed lower, 115 ended higher and 45 issues remained unchanged on the DSE trading floor.
Brac Bank topped the day’s turnover chart with shares worth Tk 129 changing hands, closely followed by Al-Arafah Islami Bank, Monno Ceramic Industries, Beximco Pharmaceuticals and Mercantile Bank.
Peninsula Chittagong was the day’s best performer, posting a gain of 9.56 per cent while Prime Insurance Company was the day’s worst loser, shedding 9.50 per cent.
Port city bourse CSE also slipped into the red with the CSE All Share Price Index – CASPI –losing 73 points to settle at 17,993 and selective Categories Index - CSCX –shedding 45 points to finish at 10,862 points.
Here too, the losers beat the gainers as 108 issues closed higher, 82 loser and 35 remained unchanged on the CSE.
The port city bourse traded 8.07 million shares and mutual fund units worth more than Tk 335 million in turnover.