DSE, CSE extend losses as bank shares keep falling

Stocks ended marginally lower on Wednesday, the penultimate trading day of the week, as investors remained on selling binge, especially on banking stocks.

Analysts said the ongoing pessimism kept investors continued selling shares, taking the market in the red zone.

The market opened on a negative note and the downward trend continued till end of the session amid volatile trading.

Finally, DSE core index ended more than 30 points lower while CSE All Share Price Index fell 49 points at closing.

DSEX, core index of Dhaka Stock Exchange (DSE), went down by 30.79 points or 0.57 per cent to settle at 5,361 points.

The two other indices also ended lower. The DS30 index, comprising blue chips, fell more than 2.37 points or 0.12 per cent to finish at 1,988. The DSE Shariah Index lost 11 points or 0.90 per cent to close at 1,251.

Turnover stood at Tk 4.88 billion, which was 11 per cent higher than the previous session’s Tk 4.38 billion.

Prices of 70 per cent traded issues declined as out of 329 issues traded, 230 closed lower, 60 closed higher and 39 remained unchanged on the DSE trading floor.

BRAC Bank topped the DSE turnover chart with shares worth Tk 289 million changing hands, closely followed by Intraco Refueling Station, Bangladesh Steel Re-rolling Mills, Queen South Textile and Legacy Footwear.

Intraco Refueling was also the day’s highest gainer, posting a gain of 9.39 per cent while Jamuna Bank was the day’s worst loser, losing 20.52 per cent following its price adjustment after record date.

The port city bourse—CSE—also ended lower with its CSE All Share Price Index–CAPSI—losing 49 points to settle at 16,591 and the Selective Categories Index—CSCX–shedding 30 points to finish at 10,033 points.

Here too, losers beat the gainers 135 to 57, with 21 issues remained unchanged on the CSE.

The port city bourse traded 6.48 million shares and mutual fund units worth more than Tk 185 million in turnover.

[email protected]