Stocks edge up as investors stay cautious, turnover slips below Tk400 crore
The benchmark DSEX inched up by just 2 points, or 0.04%, to close at 4,942, while the blue-chip DS30 index gained 1.54 points to settle at 1,897
Stocks on the Dhaka Stock Exchange (DSE) ended marginally higher today, though trading activity weakened as turnover fell sharply, reflecting continued caution among investors amid lingering market uncertainties.
The benchmark DSEX inched up by just 2 points, or 0.04%, to close at 4,942, while the blue-chip DS30 index gained 1.54 points to settle at 1,897.
Despite the slight rise in indices, market breadth remained negative, with 175 issues declining against 140 advancing, while 78 securities closed unchanged.
Keep updated, follow The Business Standard's Google news channel
Total turnover dropped by around 15% from the previous session to Tk352 crore, snapping a six-day streak of trading above the Tk400 crore mark. Market participants said investors largely stayed on the sidelines, opting for selective buying in a few stocks while booking profits in others, resulting in subdued trading momentum.
Trading activity was concentrated in a handful of stocks, with Orion Infusion, City Bank, Dominage Steel, Square Pharmaceuticals and Fine Foods emerging as the top turnover leaders during the session.
Sector-wise performance was mixed, reflecting the lack of clear direction in the market. The pharmaceutical sector led the gainers, rising 0.33%, supported by selective buying in heavyweight stocks.
Banking shares also posted modest gains of 0.29%, while food and allied industries advanced 0.23%. Fuel and power stocks edged up slightly by 0.04%.
On the losing side, non-bank financial institutions continued to face selling pressure, with the sector shedding 0.31%. Telecommunication stocks fell 0.38%, while the engineering sector posted the steepest decline of the day, dropping 0.45%.
Volatility remained pronounced among individual stocks, particularly in the financial sector.
Shares of Peoples Leasing topped the gainers' list, surging more than 10%, followed by Regent Textile, Chartered Life Insurance and Tung Hai Knitting.
However, several non-bank financial institutions suffered sharp losses, with Premier Leasing and Prime Finance hitting the floor price limit. International Leasing, Fareast Finance and Bangladesh Industrial Finance Company also closed sharply lower.
The Chittagong Stock Exchange mirrored the cautious tone, ending the session in the red. The CSCX index slipped 10 points to 8,568, while the CASPI dropped 20 points to close at 13,857. Turnover on the port city bourse stood at Tk7.79 crore.
