Stocks slipped into the red on Tuesday as investors were on selling binge amid lower-than-expected earnings disclosures of some of the companies.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 35.72 points or 0.69 per cent to settle at 5,125.
Market analysts said most of the investors remained cautious amid ongoing earnings declarations as a number of companies disclosed poor quarterly earnings during the trading hours.
The BATBC's earnings per share (EPS) fell 38 per cent year-on-year in April-June 2019 disclosed on Tuesday.
Accordingly, the company's share price fell 5.20 per cent, contributing nearly 20 points fall of index.
A number of companies also reported lower than expected earnings disclosure during the trading session.
"The ongoing quarterly earning declarations from several companies failed to meet investor's expectation which resulted into daylong selling pressure," commented EBL Securities.
The Bangladesh Bank is set to unveil its first half-yearly (H1) monetary policy for the current fiscal year (FY) 2019-20 today (Wednesday), which prompted some investors to stay sideline.
The market opened on positive note and the key index advanced about 17 points within 40 minutes of trading. But rest of session eroded the initial gains amid selling pressure.
According to UCB Capital, most of the investors remained cautious amid ongoing earnings declarations while a number of companies disclosed poor quarterly earnings during the trading session.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 17.38 points to finish at 1,826 and the DSES (Shariah) index lost 9.33 points to settle at 1,177.
Turnover, another important indicator of the market, stood at Tk 4.30 billion, which was 1.82 per cent lower than the previous day's turnover of Tk 4.38 billion.
The investors went on selling binge amid shaky investors' sentiment ahead of unveiling the monetary policy for the first half of FY 2019-20, said International Leasing Securities.
A total number of 124,450 trades were executed in the day's trading session with trading volume of 139.49 million shares and mutual fund units.
The market-cap of the DSE also fell to Tk 3,824 billion on Tuesday, from Tk 3,861 billion in the previous day.
The large-cap sectors showed negative performance except banking which gained 0.10 per cent.
Food sector posted the highest loss of 4.33 per cent, followed by NBFIs 1.53 per cent, power 1.23 per cent, engineering 0.96 per cent, telecom 0.57 per cent and pharma 0.46 per cent.
The losers took a strong lead over the gainers as out of 352 issues traded, 268 closed lower, 64 higher and 20 issues remained unchanged on the DSE trading floor.
United Power topped the turnover chart with shares worth Tk 230 million changing hands.
The other turnover leaders were Fortune Shoes, Monno Ceramic, Bangladesh Shipping Corporation and Beacon Pharma.
Monno Jute Stafflers was the day's best performer, posting a gain of 7.49 per cent while Asian Tiger Sandhani Life Growth Fund was the day's worst loser, losing by 14.52 per cent following its corporate declaration.
The port city bourse, the Chittagong Stock Exchange, also finished lower with the CSE All Share Price Index - CASPI - losing 118 points to settle at 15,676 while the Selective Categories Index - CSCX -falling 72 points to finish at 9,526.
Here too, the losers beat the gainers as 118 issues ended lower, 72 higher and 23 remained unchanged.
The port city bourse traded 7.82 million shares and mutual fund units worth nearly Tk 204 million in turnover.
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