DSEX drops 63 points as profit-taking continues

The Dhaka Stock Exchange (DSE) extended its losing streak for a third consecutive session today, as cautious investors continued booking profits.

The benchmark DSEX index fell by 63 points to settle at 5,408, bringing its total loss over three sessions to 128 points. The blue-chip DS30 index also dropped 28 points to close at 2,098, while the Shariah index declined by 14 points to finish at 1,170.

Turnover also nosedived by 20.67% to Tk706 crore, down from Tk890 crore in the previous session. Among the 398 issues traded, 79 advanced, 268 declined, and 51 remained unchanged.

Major blue-chip stocks that weighed heavily on the market included LafargeHolcim Bangladesh, Walton Hi-Tech Industries, Robi Axiata, United Power Generation & Distribution, BRAC Bank, Islami Bank Bangladesh, Grameenphone, Marico Bangladesh, Bangladesh Submarine Cables, and The City Bank.

In its daily market review, EBL Securities noted that the benchmark index of the capital bourse extended its correction for the third consecutive session as profit-taking continued to weigh on investor sentiment.

Despite the market opening with a brief bullish impulse, profit-taking pressure emerged and erased early optimism, with banking and selective stocks among the primary laggards.

Although bargain hunting introduced a modest rebound attempt in the final hours, the recovery proved short-lived amid renewed selling pressure, continuing the retracement of the benchmark index following its recent upswing, the review added.

On the sectoral front, bank stocks accounted for the highest turnover at 17.6%, followed by pharmaceuticals at 14.8% and textiles at 11.3%. Most sectors ended in the red, with cement stocks falling by 2.7%, ceramics by 2.2%, and fuel and power by 1.9%.

Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also experienced a bearish session. The Selective Categories Index (CSCX) dropped by 107.1 points, while the All Share Price Index (CASPI) fell by 162.2 points.