Bourses suffer amid continued political confrontation

Country’s twin bourses Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) have returned to negative after continued positive trend in two previous sessions in line with the political backdrop amid continued confrontation.

Share price index at both DSE and CSE experienced downturn on Wednesday. Earlier, both the bourses gained in two successive sessions on Monday-Tuesday following losses in four consecutive sessions till Sunday.

On Wednesday morning, trading at both the bourses began on a positive note but ended the day in red amid the news of increasing political clashes across the country.

dse cse The second round of a 131-hour blockade by the BNP-led opposition alliance are under way since Saturday morning after the last week’s 84-hour blockade in protest against the announcement of the election schedule without any political consensus.

On the day (Wednesday), prices of most of the issues decreased in both the bourses. The volume of trade in terms of value and number was lower at both DSE and CSE on the day than on Tuesday.

The DSE benchmark index, DSEX lost 16.49 points or 0.38 percent to reach 4294.22 at the close of the trading today (Wednesday). Of the 285 issues traded, 145 gained, 115 declined and 25 remained unchanged.

Most of the traded issues of the day included those from banking, insurance, financial institutions, and agro industries sector.

Shares worth Tk 463.70 crore changed hands at the DSE on the day against Tk 541.53 crore on Tuesday.

The day’s top 10 losers at the DSE were Northern Jute, Bengal Windsor, BD Building, First Security Bank, Progressive Life, NCC Bank, Phoenix Finance, Mercantile Bank, Prime 1st ICB, and Golden Harvest Agro.

The CSE key index, CSCX gained 27.18 points to reach 8418.33 at the close today. Of the 214 issues traded, 81 advanced, 115 suffered loss and 18 remained unchanged. The value of the traded issues was Tk 58.89 crore on the day against Tk 82.28 crore on Sunday.

Earlier in the morning, the DSEX gained 27.08 points or 0.62 percent to reach 4337.81 at 11:10 am while the CSE key index, CSCX gained 11.88 points to stand at 8457.39, also at 11:10 am today.