Market slump continues: DSEX dips for sixth straight session
The benchmark DSEX index of the Dhaka Stock Exchange (DSE) fell by 29 points on Monday, extending its losing streak to sixth consecutive sessions.
On the day, the DSEX closed at 5,044 points, which was lowest since 29 October. The blue-chip index DS30 also dropped by 9 points to settle at 1,863.
In the past six sessions, the DSEX lost 161 points.
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Of the 397 issues traded, 103 advanced, 234 declined, and 60 remained unchanged. Market turnover slightly increased to reach Tk359 crore.
Meanwhile, the Chittagong Stock Exchange (CSE) also closed in negative territory. Its general index (CSCX) dropped 35 points to 8,622, while the all-share price index (CASPI) fell 62 points to 14,135.
EBL Securities, in its daily market review, said the depressed capital market continues to suffer the outrage of dominant selling pressure as unnerved investors continued trimming their equity exposure amid waning confidence, leaving the market in a state of persistent uncertainty.
The relentless bearish spell remained dominant for continuous sessions, with the majority of scrips extending their price fall due to the broader investor pessimism pervading the trading floor, the review added.
On the sectoral front, the banking sector led with 15% of total turnover, followed by food and pharma sectors on Monday at the DSE.
Sectors mostly displayed dismal returns, out of which jute, ceramic and IT exerted the most corrections, while fuel and power and cement exhibited marginal returns.
Among the day's top gainers, Progressive Life Insurance rose 9.96% to Tk70.6, followed by Shahjibazar Power which gained 9.86% to Tk41.2. Delta Spinners advanced 9.25% to Tk5.9, while Heidelberg Materials rose 8.71% to Tk269.5.
On the losing side, Beach Hatchery was the worst performer of the day, falling 9.97% to Tk79.4. It was followed by Premier Cement with a 9.22% drop to Tk54.1, and BD Finance with an 8.69% drop to Tk8.4.
