Stocks slip for fourth straight session
The DSEX has lost 71 points since 24 September, with turnover falling 15% today as selling pressure weighed on most traded stocks.
Stocks at the Dhaka Stock Exchange (DSE) fell for the fourth consecutive session today (29 September) as investors remained cautious ahead of earnings declarations by June-closing companies.
Over the four sessions since 24 September, the DSEX, the DSE's benchmark index, has shed 71 points, according to bourse data.
Today, the DSEX slipped 1.5 points to settle at 5,524 as selling pressure weighed on most traded stocks.
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The DSE Shariah Index fell 2 points, while the DS30, the blue-chip index, declined 3 points.
Market turnover dropped 15% as investor participation weakened, DSE data showed.
Of the 395 issues traded, 142 advanced, 178 declined and 75 remained unchanged.
EBL Securities, in its daily market commentary, said the benchmark index slipped into negative territory in the final hour as investor caution over potentially weaker earnings from June-closing companies weighed on sentiment.
The market opened higher and remained in positive territory for most of the session before coming under late-hour selling pressure, despite a brief bout of buying interest, it said.
Textiles accounted for the largest share of turnover at 28.8%, followed by general insurance at 18.2% and pharmaceuticals at 10.6%.
Sectoral performance was mixed, with textiles, travel and cement posting the strongest gains, while paper, IT and mutual funds recorded the steepest declines.
The Chittagong Stock Exchange (CSE) also closed lower, with its CSCX and CASPI indices falling 3.9 points and 5 points, respectively.
