Stocks slipped into the red on Wednesday, spanning a two-day gaining streak, as the risk-averse investors opted for booking profit from the recent price surge in the later part of the session.
The market opened higher and the key index rose about 48 points, crossing the 7,300-mark within the first 30 minutes of trading. But late hours selling pressure wiped out the initial gain.
Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 16.72 points or 0.23 per cent to settle at 7,241, after gaining about 67 points in the past two straight sessions.
Two other indices also ended lower with the DSE 30 Index, comprising blue chips, fell 12.79 points to finish at 2,673 and the DSE Shariah Index (DSES) lost 4.44 points to close at 1,282.
Turnover, a crucial indicator of the market, crossed Tk 21 billion-mark after three days and amounted to Tk 21.50 billion, which was 12.56 per cent higher than the previous day’s tally of Tk 19.10 billion.
Of the 376 issues traded, 209 ended lower, 125 higher and 42 remained unchanged on the DSE trading floor.
CAPM IBBL Islamic Mutual Fund was the day’s top gainer, rising 9.72 per cent while Desh Garment was the worst lower, losing 6.30 per cent.
A total number of 275,863 trades were executed in the day’s trading session with a trading volume of 522.88 million shares and mutual fund units.
The market-cap of DSE also fell to Tk 5,761 billion on Wednesday, down from Tk 5,770 billion in the previous session.
The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI –losing 82 points to settle at 21,157 and the Selective Categories Index – CSCX shedding 52 to close at 12,693
Of the issues traded, 171 declined, 115 advanced and 34 remained unchanged on the CSE.
The port city’s bourse traded 21.37 million shares and mutual fund units with a turnover value of Tk 623 million.