Bangladesh stock market extends losing streak
Business Desk :
Bangladesh’s capital market extended its losing streak last week, with the Dhaka Stock Exchange (DSE) seeing its market capitalisation shrink by more than Tk 10,500 crore amid broad-based declines in share prices.
The market opened on Sunday with a capitalisation of Tk 6,86,368 crore, which fell to Tk 6,75,866 crore by Thursday, marking a weekly erosion of Tk 10,501 crore. Price declines dominated trading, with 335 companies posting losses, 32 recording gains, 22 remaining unchanged, and 24 not participating.
All DSE indices fell during the week. The benchmark DSEX index dropped 132 points, or 2.67 percent, closing at 4,831 points after four trading sessions due to the Victory Day holiday. Year-on-year, the DSEX has fallen 7.38 percent from 5,216 points.
Other indices also declined, with DS30 losing 2.28 percent, DSES falling 3.25 percent, and DSMEX shedding 2.77 percent. Average daily turnover dropped by more than 7 percent, falling from Tk 417 crore to Tk 387 crore.
Out of 21 sectors, only seven recorded gains. The banking sector fell 6 percent, while non-bank financial institutions plunged nearly 32 percent. Life insurance prices dropped 38 percent, though general insurance gained more than 19 percent. Gains were also seen in ceramics, corporate bonds, food, mutual funds, real estate and textiles.
Bangas Ltd topped the DSE gainers’ list with nearly 15 percent growth, followed by Reliance One and CAPM IBBL Islamic Mutual Fund. Bangladesh Welding Electrodes Ltd and Union Insurance Company Limited also posted gains.
On the losing side, Shyampur Sugar Mills Ltd fell nearly 21 percent, followed by Zeal Bangla Sugar Mills Ltd with over 17 percent losses. AFC Agro Biotech Ltd, Khan Brothers PP Woven Bag Industries and FAS Finance & Investment Limited were also among the top decliners.
The Chittagong Stock Exchange (CSE) also posted losses, with all major indices falling between 1.7 percent and 2 percent. Out of 250 traded companies, prices fell for 159, rose for 71 and remained unchanged for 20.