Last update on: Fri Mar 8, 2024 09:40 PM
The stock market of Bangladesh ended in negative territory yesterday, just a day after it broke a five-day losing streak, mainly due to the price fall of large-cap companies.
British American Tobacco Bangladesh (BATB), Grameenphone, Titas Gas, Walton and Heidelberg Cement led the downturn as the fall in their share prices significantly impacted market indices.
Grameenphone, the highest valued stock, witnessed a drop of 0.47 percent while BATB, the second largest, saw a decline of 2.32 percent.
The DSEX, the benchmark index of the country’s premier bourse, lost 53.37 points, or 0.86 percent, to settle at 6,112 points by the end of the trading session.
Similarly, the DSES, an index comprising shariah-compliant companies, shed 7.12 points, or 0.53 percent, to close at 1,343 points.
The DS30, which represents blue-chip stocks, decreased by 12 points, or 0.56 percent, to 2,094 points.
The DSE’s Daily turnover slipped 3.65 percent to Tk 703 crore.
According to the daily market update of Shanta Securities Research, market movement this week was driven by negative changes in the market cap of food and allied, pharmaceutical and chemical, and telecommunication scrips.
It said the daily average turnover this week stood at Tk 8,10 crore, a 7.58 percent decrease compared to the previous trading week.
Of the issues traded at the DSE, 46 advanced, 304 declined and 46 did not see any price fluctuation.
The situation was similar at the Chittagong Stock Exchange (CSE) as the Caspi, the main index of the port city bourse, fell 3.3 points, or 0.27 percent, to 1,242.
In its daily market research, BRAC EPL Stock Brokerage said all the large-cap sectors posted negative performances yesterday.
Food and Allied experienced the highest loss of 2.62 percent followed by the non-bank financial institutions (1.91 percent), fuel and power (0.92 percent), telecommunication (0.88 percent), engineering (0.74 percent), bank (0.53 percent), and pharmaceutical (0.28 percent).
Asiatic Laboratories topped the gainers’ chart with a rise of 10 percent followed by ICB Islamic Bank with 6.97 percent.
Meanwhile, Fine Foods, Beacon Pharmaceuticals and Anlimayam Dyeing gained more than 4 percent each.
Central Pharmaceuticals shed the most, losing 9.45 percent, followed by Monno Fabrics, BD Thai Aluminium, and Khulna Printing and Packaging with losses of more than 8 percent apiece.
