DSEX extends losing streak for third straight session
Despite the downward trend, daily turnover on the DSE increased by 3% on the day, reaching Tk484 crore compared to Tk470 crore in the previous session
The benchmark DSEX index of the Dhaka Stock Exchange (DSE) extended its losing streak for the third consecutive session today (8 April), as cautious investors continued to sell off shares amid ongoing political and economic uncertainty, particularly concerns over potential US tariffs.
Despite the downward trend, daily turnover on the DSE increased by 3% on the day, reaching Tk484 crore compared to Tk470 crore in the previous session.
Amid the uncertainty, investors appeared divided as some selectively purchased specific stocks and undervalued shares with strong potential. Others redirected their funds into blue-chip stocks to safeguard their investments.
On the day, the DSEX index dropped by 11 points to close at 5,186. The DSE Shariah Index (DSES) gained 1 point to 1,167, while the DS30 index, comprising blue-chip stocks, declined by 6 points to settle at 1,925.
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Out of 397 traded issues, 149 advanced, 194 declined, and 54 remained unchanged.
Key stocks contributing to the decline included Grameenphone, BRAC Bank, Robi, Square Pharmaceuticals, Unilever Consumer Care, Beacon Pharmaceuticals, Khan Brothers PP Woven Bag Industries, Pubali Bank, Investment Corporation of Bangladesh, and Midland Bank Limited.
According to market insiders, the DSEX has been fluctuating between 5,100 and 5,200 points over the past three months. Institutional investors remain largely inactive, and retail investors are following suit amid challenging market conditions.
Major obstacles to market recovery include high deposit rates, a liquidity crunch, low institutional and foreign participation, and persistent economic instability, exacerbated by political unrest.
Although the indices opened on a positive note and showed gains during the first 15 minutes of trading, they gradually declined throughout the session.
On the day, Bangladesh Lamps, Dhaka Electric Supply Company, Heidelberg Materials Bangladesh, First Bangladesh Fixed Income Fund, AB Bank 1st Mutual Fund, Sonali Paper & Board Mills, and Navana Pharmaceuticals PLC were among the top gainers.
Padma Islami Life Insurance led the list of losers, followed by Central Pharmaceuticals, Fu-Wang Food, MIDAS Financing, Premier Leasing & Finance, Pioneer Insurance Company, The Peninsula Chittagong, and HR Textile Ltd.
The most traded stocks during the session included Beximco Pharmaceuticals, Shinepukur Ceramics, Bangladesh Shipping Corporation, AB Bank 1st Mutual Fund, and Navana Pharmaceuticals PLC.
EBL Securities, in its daily market commentary, noted that the benchmark index extended its losing streak for the third consecutive session as cautious sentiment prevailed across the trading floor due to economic concerns, particularly the risk of new US tariffs.
The market experienced a mildly volatile session, with a brief intraday uptick similar to the previous day. However, cautious selling continued to pressure the indices. Opportunistic buying in select large-cap and trending stocks was observed, while mutual fund scrips led the top gainers' list, driven by short-term investors seeking quick profits.
On the sectoral front, the pharmaceuticals sector posted the highest turnover at 19.5%, followed by mutual funds 9.4% and banks 9.1%.
Sector-wise performance was mixed. Mutual funds 3.7%, paper 2.5%, and jute 2.4% were the top gainers, while financial institutions 0.8%, travel 0.7%, and telecom 0.6% saw the most losses.
Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also ended in the red. The Selective Categories Index (CSCX) declined by 13.2 points, while the All Share Price Index (CASPI) dropped by 28.2 points.
