Stocks fall after two-day gains

Major indices of the stock market in Bangladesh fell yesterday on gaining for two days as investors opted for caution in their trades amidst political and economic uncertainties.

The last few days were downbeat for investors and the market centring Bangladesh's foreign credit rating being downgraded by US-based agency Moody's.

Both the Dhaka and Chattogram bourses witnessed low participation of investors but a lot of sale requests.

The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), edged down by 5.34 points, or 0.10 percent from that on the day prior, to close at 5,192.

The other two indexes showcased a mixed performance.

The DSES, the index that represents Shariah-based companies, rose by 0.32 points, or 0.03 percent, to 1,166.

The DS30 index of blue-chip stocks dropped by 1.19 points, or 0.06 percent, to 1,916.

In Chattogram, the CSE All Share Price Index, the premier index of Chittagong Stock Exchange, fell by 62.82 points, or 0.43 percent, to settle the day at 14,532.

Of the issues that changed hands on the DSE, 125 saw a rise in prices, while those of 196 closed lower. The remaining 69 did not witness any price fluctuations.

The day's turnover, which is the collective value of shares that were traded, stood at Tk 473 crore, an increase of 5.01 percent compared to the previous trading session.

The banking sector dominated the turnover chart, accounting for 17.91 percent of the total.

Block trades, which are high-volume securities transactions privately negotiated and executed outside the open market, contributed another 4.4 percent.

NRB Bank Limited emerged as the most-traded share, with a turnover of Tk 242 crore.

Sector-wise, ceramics, pharma and engineering were the top three to close in the positive, according to the day's market update by UCB Stock Brokerage.

Jute, non-bank financial institutions (NBFIs) and services and real estate became the top three to close in the negative.

Most of the large-cap sectors, meaning those that account for large amounts in market capitalisation, which is the total existing value of their shares, posted a negative performance.

NBFI experienced the highest loss of 1.86 percent, followed by telecommunication (0.38 percent), fuel and power (0.26 percent), banking (0.22 percent), and food and allied (0.03 percent).

However, engineering showcased a gain of 0.33 percent while pharmaceuticals 0.42 percent.