DSE turnover sinks below Tk300cr after nearly five months

The Dhaka Stock Exchange (DSE) witnessed another gloomy session today (12 November), with daily turnover falling below Tk300 crore for the first time in nearly five months, reflecting investors' lack of confidence amid ongoing political and regulatory uncertainties.

Turnover on the premier bourse dropped 15% from the previous session to Tk290 crore, the lowest since June.

The DSEX, the benchmark index, lost 47 points to close at 4,825, extending its losing streak, while the blue-chip DS30 index shed 18 points to settle at 1,898. Out of 388 traded issues, 53 advanced, 301 declined, and 34 remained unchanged.

According to EBL Securities, the market's downward spiral continued despite a brief recovery earlier this week.

"The capital market extended its downward trend, defying the short-lived recovery from the previous session, as lingering regulatory and political uncertainties heightened broad-based selling pressure, which left investors grappling with sustained losses," the brokerage said in its daily market review.

The report added that although the market opened on a positive note, the optimism faded quickly as sell pressure intensified, ultimately dragging the index deep into the red.

All major sectors ended in losses, with jute (-4.2%), life insurance (-3.7%), and mutual funds (-3.4%) leading the day's declines.

Summit Alliance Port, Anwar Galvanizing, Orion Infusion, Bangladesh Shipping Corporation, and Khan Brothers PP Woven Bag dominated the turnover activity.

The top gainers' list was led mostly by weak and loss-making companies, including Familytex, FAS Finance, International Leasing, Generation Next, and Saif Powertech.

Meanwhile, the Chittagong Stock Exchange (CSE) also closed lower, with the CSCX index dropping 67 points to 8,446 and CASPI falling 120 points to 13,617. The CSE's turnover slumped 63% to Tk9.80 crore.