Stocks witnessed yet another bearish session on Thursday with the key index of the Dhaka Stock Exchange (DSE) dipping below 5,700-mark as investors went on selling spree, especially bank and telecom issues.
Analysts said the investors went on selling binge as quarterly earnings and lower than expected dividend declaration some large-cap companies failed to meet investors’ expectations.
The market opened on a negative note and the downward trend continued till end of the session amid no sign of reversal, finally DSEX plunged more than 40 points while the CSE All Share Price Index fell 98 points at closing.
DSEX, the key index of the DSE, settled at 5,698, losing 40.54 points or 0.70 per cent over the previous session.
The two other indices also ended lower. The DS30 index, comprising blue chips, shed 15.22 points or 0.71 per cent to finish at 2,128. The DSE Shariah Index (DSES) lost 6.27 points or 0.47 per cent to close at 1,318.
Bearish sentiment also reflected on the trading activities as total turnover on the DSE amounting to Tk 4.74 billion, which was 20 per cent lower than the previous day’s Tk 5.92 billion.
Out of 337 issues traded, 154 closed higher, 149 ended lower and 34 issues remained unchanged on the DSE trading floor.
Beximco topped the turnover chart with shares worth Tk 309 million changing hands, closely followed by Delta Brac Housing Finance, BBS Cables, Western Marine Shipyard and BRAC Bank.
Advent Pharma was the day’s best performer, posting a gain of 9.88 per cent while AB Bank was the day’s worst loser, losing 22.58 per cent following its No dividend declaration news.
The port city’s bourse CSE also ended lower with the CSE All Share Price Index - CASPI – shedding 98 points to settle at 17,595 and Selective Categories Index - CSCX – losing 58 points to finish at 10,639 points.
The gainers beat the losers as 109 issues closed higher, 100 ended lower and 22 remained unchanged.
The port city bourse traded 9.25 million shares and mutual fund units worth more than Tk 225 million in turnover.