Dhaka bourse turnover hits 36-day low

Stocks experienced a downward trend today, with the benchmark index of the Dhaka Stock Exchange (DSE) losing 14 points and the daily turnover falling below Tk300 crore for the first time in 36 days.

On the day, the DSEX closed at 5,181 points, while the blue-chip index, DS30, dropped by 3 points to settle at 1,908.

EBL Securities, in its daily market review, noted that trading activities remained stagnant, with the market turnover on the DSE falling below Tk300 crore for the first time in nearly two months. The turnover decreased by 12.5%, falling to Tk293 crore from Tk335 crore in the previous session.

The report highlighted that the country's capital bourse started the week on a dismal note, extending the negative sentiment from the previous session, as dominant sell-offs continued across the market. Investors' anxiety over the market's momentum, following recent regulatory fines for stock manipulation, further shook the already volatile market.

The market began with significant sell pressure, causing the benchmark index to fall by around 50 points in the first hour of trading. However, subsequent buying activity in sector-specific stocks helped recover some of the initial losses, the report added.

Among the traded stocks, 87 advanced, 248 declined, and 60 remained unchanged.

According to EBL Securities' report, banking sector stocks, including Islami Bank Bangladesh, National Bank, United Commercial Bank, and Pubali Bank, were the primary contributors to the index's decline.

In terms of sector performance, the banking sector led the market with the highest turnover at 15.1%, followed by the pharmaceutical sector at 14.3%, and the textile sector at 10.9%.

Most sectors recorded negative returns, with the largest declines seen in jute (down by 3.2%), mutual funds (down by 2%), and ceramics (down by 1.8%).

In contrast, a few sectors posted gains, including textiles (up by 0.3%), fuel and power (up by 0.2%), and pharmaceuticals (up by 0.1%).

Bangladesh Shipping Corporation topped the turnover list, with shares worth Tk 8.92 crore changing hands. It was followed by Square Pharma and NRB Bank.

Sonargaon Textile led the top gainers list, with its share price jumping by 9.60%, followed by HR Textile and Monno Fabrics.

First Prime Finance Mutual Fund was the worst performer of the day, followed by Dula Mia Cotton and Atlas Bangladesh.

The port city bourse, Chittagong Stock Exchange, also closed in the red. The selected indices, CSCX and the all-share price index CASPI, declined by 24.8 and 42.6 points, respectively.