Bangladesh stocks extend losses for third day amid low turnover

Dhaka, Chattogram stock exchange logos_11zon

Dhaka, Oct 8 - Bangladesh’s stock market continued its losing streak for the third consecutive session on Tuesday, as most issues on both the Dhaka and Chattogram bourses ended lower amid reduced turnover.

At the Dhaka Stock Exchange (DSE), the benchmark index DSEX lost 39 points to close lower, while the Shariah-based DSES dropped 12 points and the blue-chip DS30 shed 13 points.

Out of the 399 issues traded, prices advanced for 105, declined for 221, and remained unchanged for 73 securities.

Across all three categories — A, B, and Z — the majority of companies saw losses. In the A-category, which comprises fundamentally strong and highest dividend-paying firms, 64 advanced against 123 losers.

The block market witnessed trades worth Tk 6 crore across 22 companies, with Asiatic Laboratories Ltd topping the list by selling shares worth Tk 1.2 crore.

The turnover at the DSE also declined to Tk 611 crore, down from Tk 787 crore in the previous session.

Pioneer Insurance Company Ltd emerged as the top gainer of the day, soaring over 9 percent, while Union Bank PLC slumped more than 9 percent to become the day’s worst performer.

The bearish sentiment extended to the Chittagong Stock Exchange (CSE) as well, where the broad index fell by 36 points.

Most issues at the port city bourse ended lower, with 64 advancing against 135 declining.

The turnover at the CSE stood at Tk 8 crore, compared to Tk 12 crore in the previous session.

Reliance One, the first scheme of Reliance Insurance Mutual Fund, topped the gainers’ list with a rise of over 23 percent, while Dhaka Electric Supply Company Ltd (DESCO) dropped 10 percent to become the day’s worst performer. - UNB