Stocks extended the losing spell for the two consecutive sessions on Wednesday, with turnover dipping below Tk 7.0 billion-mark once again, as cautious investors continued their selling spree.
Market insiders said gradual decline in turnover indicates that investors were staying on the sidelines and observing the market movement carefully.
The market started with a negative note and the downward trend continued till end of the session amid modest volatility. The market finally ended 16.42 points lower.
After four hours trading session, DSEX, the prime index of Dhaka Stock Exchange (DSE), finished at 5,555.09 points, losing 16.42 or 0.29 per cent over the previous session.
After reaching record high at 5,777 points on April 4 this year since its introduction in January, 2013, the prime index of the country’s premier bourse shed 185 points in the past eight consecutive sessions and advanced only 3.29 points on Monday, but fell further on Tuesday and Wednesday.
The two other indices also closed lower. The DS30 index, comprising the blue-chips, fell 1.01 points or 0.05 per cent to finish at 2,055.16. The DSE Shariah Index (DSES) lost 2.83 points or 0.22 per cent to close at 1279.71 .
Trading activities fell to Tk 6.84 billion, which was 2.98 per cent lower than the previous day’s Tk 7.05 billion.
The losers took a modest lead over the gainers as out of the 327 issues traded, 146 closed lower, 144 ended higher and 37 remained unchanged on the DSE trading floor.
Shahjibazar Power Compnay topped the DSE turnover with about 2.56 million shares of Tk 386 million changing hands, followed by LankaBangla Finance, Saif Powertec, BDCOM Online and City Bank.
Islamic Finance was the day’s highest gainer, posting a 9.71 per cent rise while Al-Aarafa Islami Bank was the worst loser, plunging by 9.80 per cent following its price adjustment after record date.
The port city bourse, the Chittagong Stock Exchange (CSE), also finished lower with its Selective Categories Index - CSCX – losing 18.32 points to settle at 10,445.
Losers beat gainers as 108 issues closed lower, 102 closed higher and 23 remained unchanged on the CSE trading floor.
The port city bourse traded 20.16 million shares and mutual fund units worth Tk 534 million in turnover.