Stocks backed to the red Wednesday, after a single-day break, as ongoing pessimism weighed on investors’ confidence.
Brokers said the market returned to downturn amid lack of direction and persistent volatility as most of the investors followed cautious mood ahead of year-closing.
“The investors were cautious about fresh exposure to the market, while institutional investors followed ‘wait-and-see’ strategy ahead of year-closing, taking the market in red zone,” said an analyst at a leading brokerage firm.
The market started with a positive note and the key index of the major bourse gaining around 15 points within first hour of trading. But rest of the session fell steadily, finally eroded more than 27 points.
The market started with a positive note, gaining around 26 points within first hour of trading, but rest of the session fell steadily, finally ended more than 7.0 points lower.
DSEX, the core index of the Dhaka Stock Exchange (DSE), went down by 27.52 points or 0.44 per cent to settle at 6,224.
The two other indices also edged lower. The DS30 index, comprising blue chips fell 5.74 points or 0.25 per cent to close at 2,251.
The DSE Shariah Index (DSES) lost 4.10 points or 0.29 per cent to finish at 1,375.
Turnover, the crucial indicator of the market, also fell 8.56 per cent to Tk 4.06 billion, compared to the previous day’s Tk 4.44 billion.
It was the lowest single-day transaction in the six months since June 13, this year when turnover was recorded at Tk 4.0 billion.
Losers took a strong lead over the gainers as out of 335 issues traded, 176 closed lower, 100 closed higher and 59 remained unchanged on the DSE trading floor.
Islami Bank Bangladesh topped the day’s turnover chart with shares of nearly Tk 195 million changing hands, closely followed by Shahjibazar Power, Bangladesh Steel Re-rolling Mills, City Bank and Legacy Footwear.
Fine Foods was the day’s best performer, posting a gain of 8.91 per cent while Standard Ceramics was the day’s worst loser, plunging by 5.66 per cent.
The port city bourse – the Chittagong Stock Exchange – (CSE) also closed lower with CSE All Shares Price Index of – losing 95 points to finish at 19,257 points.
The Selective Categories Index of the port city bourse -- CSCX -- also lost 60 points to settle at 11,642 points.
Losers beat gainers as 132 issues closed lower, 70 closed higher and 42 remained unchanged on the CSE.
The port city bourse traded 9.34 million shares and mutual fund units worth Tk 302 million in turnover.