DSEX drops below 5,100 for first time in five months
The blue-chip index DS30 also dropped by 2.77 points to settle at 1,875
The benchmark DSEX index of the Dhaka Stock Exchange (DSE) fell below the 5,100 mark for the first time in five months yesterday, as cautious investors refrained from fresh investments amid persistent economic uncertainties.
On the day, the DSEX fell by 8 points to close at 5,097, extending its losing streak to a fourth consecutive session. Over the past four days, the index has shed a total of 108 points.
The blue-chip index DS30 also dropped by 2.77 points to settle at 1,875.
Of the 396 issues traded, 124 advanced, 190 declined, and 82 remained unchanged. Market turnover fell by 15% from the previous session to Tk339 crore.
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Meanwhile, the Chittagong Stock Exchange (CSE) also closed in negative territory. Its general index (CSCX) dropped 26 points to 8,685, while the all-share price index (CASPI) fell 63 points to 14,259.
According to market insiders, although indices stayed afloat during the early hours of the day's session, a continued cautious selling approach further weighed on the market, dragging most scrips back into the negative territory again.
EBL Securities, in its daily market review, said the capital bourse of the country extended its downbeat vibe for four consecutive sessions as investor concerns remained vigilant due to prevailing volatility across the trading board due to prevailing economic concerns.
The market continued to remain sell-dominant as cautious investors held onto their watchful stance amid prevailing uncertainties. However, the ailing market indices found some cushion, with gains in selective Bank stocks partially offsetting the broader market decline., the review added.
On the sectoral front, banking sector led with 17.7% of total turnover, followed by food and pharma sectors.
Sectors mostly displayed dismal returns, out of which cement, jute and ceramic exerted the most corrections on the Dhaka bourse, while bank, mutual fund and food exhibited marginal returns.
Among the day's top gainers, Midland Bank rose 8.58% to Tk17.7, followed by United Commercial Bank which gained 8.08% to Tk10.7. NRB Bank advanced 7.20% to Tk13.4, while Desh General Insurance rose 6.39% to Tk31.6.
On the losing side, Union Capital was the worst performer of the day, falling 9.25% to Tk4.9. It was followed by Heidelberg Materials with an 8.39% drop to Tk264.2, and BD Finance with a 7.40% drop to Tk10.
