Dhaka stocks fail to withstand sell pressure on Sunday

Dhaka stocks started the day with a positive momentum, but could not withstand the selloff ultimately on Sunday (7 May). 

In early of the trading session, DSEX, the benchmark of the Dhaka Stock Exchange (DSE) jumped by around 15 points but finally, it increased by 0.18 points and settled at 6269 points owing to shares selloff.

DSE shariah index by 0.77 points to settle at 1368 points while the blue-chip index DS-30 declined by 0.81 points to settle at 2203 points.

However, turnover at DSE declined by 2% to Tk846.21 crore.

Out of the traded stocks, 61 scrips advanced, 76 declined and 210 scrips remained unchanged.

Khan Brothers PP Woven Bag Industries become top gained on the day, its shares price gained by 9.92% to Tk13.30 each, followed by Shurwid Industries by 9.59% to Tk16 each and Midland Bank by 9.56% to Tk14.90 each.

Eastern Bank become to loser chart, its shares declined by 11.17% to Tk29.4 each.

According to sources, owing to the price adjustment of the stock dividend in 2022, its share price declined after the record date.

Earlier, the bank declared a 25% dividend for its shareholders, of which 12.5% cash and 12.5% stock dividend for the last year.

Sea Pearl Beach Resort was the second top loser chart, its shares price loosed by 8.38% to Tk229.60 each, followed by Legacy Footwear by 7.83% to Tk65.90 each.