DSEX falls below 5,200 mark after three months
Despite the persistent bearish sentiment, market turnover rose by 14% from the previous session to Tk606 crore, supported mainly by heightened activity in general insurance, pharmaceuticals, and textiles
The Dhaka stock market fell back into a losing streak today (14 October), with the benchmark DSEX index slipping below the 5,200 mark for the first time in three months as investors remained cautious amid ongoing earnings disclosures and regulatory concerns.
The DSEX dropped by 30 points, or 0.58%, to close at 5197, while the blue-chip DS30 index fell by 14 points, or 0.70%, to settle at 1,995. Market capitalisation declined by around Tk6,000 crore, according to data from the Dhaka Stock Exchange (DSE).
Despite the persistent bearish sentiment, market turnover rose by 14% from the previous session to Tk606 crore, supported mainly by heightened activity in general insurance, pharmaceuticals, and textiles.
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Out of 396 traded issues, 105 advanced, 233 declined, and 58 remained unchanged.
EBL Securities, in its daily market commentary, noted that the capital market resumed its downward trajectory after a single-session pause as investors' concerns lingered across the trading floor.
"Although the market showed some positive momentum at the opening bell, selling pressure resurfaced before noon and persisted throughout the session, dragging the index into negative territory," it said.
General insurance stocks accounted for the highest turnover, contributing 13.9% of the day's total transactions, followed by the pharmaceuticals (12.6%) and textile (11.4%) sectors.
Except for mutual funds, which gained by 1.5%, all major sectors ended in the red. The worst-performing sectors were information technology, paper, and life insurance, which declined by 2.7%, 2.5%, and 2.4%, respectively.
Among the top gainers of the day were Social Islami Bank (10%), ICB Islamic Bank (9.52%), Fareast Finance (9.09%), Purabi General Insurance (8.96%), and Orion Infusion (8.74%).
On the losing side, Peoples Leasing (-9.09%), Information Service Network (-8.85%), and Intech (-7.05%) led the decline.
Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also closed lower, with the CSCX and CASPI indices falling by 29.9 and 54.1 points, respectively, reflecting the broader market's weakness.
