Stocks fall again in Bangladesh
Graphics: Agamir Somoy
Bangladesh’s stock market declined again on Sunday, the first trading day of the week, following gains over the previous two trading sessions. At the country’s premier bourse, the Dhaka Stock Exchange (DSE), prices of most companies’ shares and units fell. Both the benchmark index and trading turnover also declined. However, the Chittagong Stock Exchange (CSE), the country’s other stock market, recorded a slight rise in its index.
The stock market had declined for three consecutive trading sessions during the first three days of last week before witnessing significant gains on the fourth and fifth trading days. In particular, turnover at the DSE exceeded Tk 6 billion on Thursday, the last trading day of the week, marking the highest transaction volume in a month.
The market initially showed an upward trend on Sunday as share prices of most companies rose at the start of trading. The trend continued for the first two hours. However, widespread price declines toward the end of the session increased the number of losing stocks, and trading ultimately closed with a fall in the index.
At the end of Sunday’s trading, share and unit prices of 122 companies listed on the DSE increased, while 200 declined and 65 remained unchanged. Alongside the fall in the index, trading turnover also decreased.
The DSE recorded a total turnover of Tk 5.588 billion on Sunday, down from Tk 6.4543 billion in the previous trading session. This represents a decline of Tk 866.3 million in a single day.
Shahjibazar Power Company led trading on the DSE, with shares worth Tk 237.1 million changing hands. Envoy Textiles ranked second with transactions worth Tk 232.9 million, followed by Saiham Textile in third place with shares worth Tk 183.8 million traded.
The other companies among the DSE’s top 10 most-traded stocks were Evince Textiles, Matin Spinning, Prime Finance First Mutual Fund, Dorin Power, Malek Spinning, Purbie General Insurance and Probati Insurance.
In contrast, the Chittagong Stock Exchange (CSE) recorded a different trend from the DSE. Of the 168 companies that participated in trading on the CSE on Sunday, share and unit prices of 70 rose, while 69 declined and 29 remained unchanged.
Amid somewhat stronger buying interest, the CSE All Share Price Index (CASPI) gained 15 points. However, turnover on the exchange fell to Tk 112.1 million from Tk 195.2 million in the previous trading session.
