STAR BUSINESS REPORT

The stock market indices in Bangladesh extended their downward trend for the third consecutive day, largely due to the poor performance of large-cap and blue-chip shares amid a lack of investor confidence.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), shed 50.49 points, or 0.95 percent, from the previous day to close at 5,265 yesterday.

Similarly, the DSES index, which represents Shariah-based companies, slipped 12.40 points, or 1.04 percent, to 1,175.

In the blue-chip segment, the DS30 dipped by 11.86 points, or 0.60 percent, to 1,953.

Shares of Islami Bank Bangladesh, Grameenphone, Renata, Kohinoor Chemicals, Beacon Pharmaceuticals, National Bank, Al-Arafah Islami Bank, Prime Bank, Orion Pharma and Best Holdings suffered losses.

Islami Bank alone was liable for a loss of 8.52 points.

However, Khan Brothers PP Woven Bag Industries, Bangladesh Shipping Corporation, Pragati Life Insurance, Olympic Industries, Beach Hatchery, Premier Bank, Legacy Footwear Limited, BRAC Bank, LafargeHolcim Bangladesh PLC and Evince Textiles Limited logged profits.

But none of the companies experienced double-digit growth in share prices, according to the daily market update by LankaBangla Financial Portal. Khan Brothers PP Woven Bag Industries’ shares grew by over 4 percent.

Of the issues that changed hands on the DSE trading floor, 63 saw a price hike, 292 closed lower and 39 did not see any price movement.

Turnover, which indicates the total value of shares traded, stood at Tk 559 crore on the country’s premier bourse, an increase of 3.34 percent compared to the previous trading session.

The non-bank financial institution (NBFI) sector dominated the turnover chart, accounting for 17.98 percent of the total turnover.

Block trades, which are high-volume transactions in securities that are privately negotiated and executed outside the open market, contributed 21.2 percent to the overall market turnover. The Bangladesh Shipping Corporation emerged as the most traded share, with turnover of Tk 21.7 crore.

Sector-wise, miscellaneous and tannery were the two sectors that closed in the positive territory, as per the daily market by UCB Stock Brokerage.