DSEX falls below 4,700, hits 5-yr low

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) slipped below the 4,700-mark on Tuesday (27 May), hitting its lowest point in nearly five years amid persistent market volatility and waning investor confidence.

The index lost 41 points to close at 4,678 – marking its fifth straight session of decline. The last time the DSEX hovered around this level was on 12 August 2020, when it closed at 4,633. In the last five sessions alone, the index has shed a total of 123 points.

The blue-chip DS30 index also dropped 17 points, settling at 1,724.

Of the traded securities, 237 declined, 83 advanced, and 72 remained unchanged. Market turnover stayed sluggish, remaining below Tk300 crore, as investor participation continued to shrink amid prolonged uncertainty.

In its daily market commentary, EBL Securities noted that a relentless selling spree continued across the trading board, with no signs of recovery in sight. "The sustained downturn further deepened bearish sentiment in the capital market," the firm said.

Selling pressure intensified in the latter half of the session, as most investors remained hesitant to take new positions in equities due to prevailing pessimism and uncertainty, the brokerage added.

On the sectoral front, bank stocks registered the highest turnover, followed by the food and engineering sectors. Most sectors ended in the red, with paper, ceramic, and tannery stocks witnessing the steepest corrections. Meanwhile, the non-bank financial institutions, travel, and cement sectors posted marginal gains.

Union Bank topped the gainers' list, followed by Investment Corporation of Bangladesh (ICB), Global Islami Bank, and National Bank.

On the losing side, Sonargaon Textile was the worst performer of the day, followed by SEML Lecture Mutual Fund, Standard Insurance, and Al-Arafah Islami Bank.