Stocks closed lower yesterday as previous session’s enthusiasm over the central bank’s governor’s resignation fizzled out.
The market carried out previous session’s rally until the first session, but the gains were short-lived due to quick profit booking.
The benchmark index DSEX was down almost 30 points or 0.7% to close at 4,446, after about 0.3% rise earlier.
The Shariah index DSES shed 7 points or 0.7% to 1,080. The blue chip comprising index DS30 moved down 20 points to 1,693.
The Chittagong Stock Exchange Selective Category Index CSCX ended at 8,323, dropping 66 points.
The initial enthusiasm created over the governor’s resignation subdued, as investors opted for booking short-term profits, brokers say.
On Tuesday, Bangladesh Bank governor Atiur Rahman stepped down over $101 million cyber money heist from the central bank’s reserves. Trading activities also came down below Tk400 crore-mark as the DSE total turnover stood at Tk370 crore, down 15% over the previous session’s value.
Fuel and power sector was the worst sufferer, tumbling almost 2%, driven by Summit Power that fell steeply about 8% after the news that the company planned to merge its three power producing firms – Summit Purbanchol Power Company, Summit Uttranchol Power Company and Summit Narayanganj Power.
Summit Power was also the most-traded share with a turnover worth about Tk18 crore.
All other major sectors like bank, cement, non-banking financial institution decreased while textile sector increased 0.7%.
Shares of 307 companies were traded on the day. Of these, 91 companies closed positive, 159 negative while 57 remained unchanged.
Lanka Bangla Securities said following the release of slew of earnings declaration and economic updates, company specific updates also clogged the traders’ interest on picky stocks.
It said major large cap stocks got the cramp from earning declaration which dragged down the benchmark index to one week low.
