Stocks plunge further amid political volatility  

The country's capital market extended its losing streak yesterday as selling pressure persisted, dragging the DSEX down by 38.7 points to close at 4,746 — a new low amid the ongoing economic uncertainty and political volatility.

Most listed stocks saw price erosion, with investors remaining cautious amid ongoing market volatility.

Turnover — one of the key indicators of market activity — on the Dhaka Stock Exchange (DSE) rose slightly by 10% to Tk278 crore, after hitting a ten-month low last Thursday.

Of the traded stocks today, 271 scrips saw price decline, 74 advanced and 52 remained unchanged, according to DSE data. 

The DSES, the Shariah index, declined by 9.66 points to 1,037, while the DS30, the blue-chip index, dropped by 23.80 points to settle at 1,753.

EBL securities in its daily market commentary said that the bearish sentiment in the country's capital market deepens further amid no clear signs of respite for investors from the prolonged market downturn, with the benchmark index slipping to a new low on Saturday in recent sessions. 

"Although indices showed a brief positive vibe in the early session, the market ultimately succumbed to its prevailing downtrend since most investors remained wary of the market's outlook and preferred to remain on the sidelines as lingering pessimism and uncertainties continued to pervade the trading board," it said.

Meanwhile, trading activities remained stagnant with total turnover in DSE being low at Tk278 crore, said EBL Securities. 

On the sectoral front, Bank sector issues exerted the highest by 26.2% in total turnover, followed by Food 10.0% and Textile by 9.7% sectors. 

Atlas Bangladesh topped the gainer chart as its share price surged by 9.98% to Tk57.3 each, followed by Shinepukur Ceramics by 9.90% to Tk23.3 each, and S Alam Cold Rolled Steels by 9.74% to Tk21.4 each. 

Four banks lead loser for stock dividend adjustment 

Four banks—City Bank, Pubali Bank, Mutual Trust Bank, and Dutch-Bangla Bank—topped the list of losers yesterday, with their share prices declining by over 10%.

The price declining occurred due to adjustment of stock dividend for 2024.

Shares price of City Bank declined by 16.66% to Tk19 each, followed by Pubali Bank by 14.73% to Tk24.3 each, MTB by 12.71% to Tk10.3 each, and Dutch-Bangla Bank by 10.56% to Tk38.1 each. 

The port city bourse, CSE, also settled on red zone. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) fell by 54.1 points and 91.5 points, respectively.