Stocks slip as profit-taking halts two-day rally on DSE
The blue-chip index DS30 also saw a notable pullback, dropping 8 points to settle at 1,899
The Dhaka Stock Exchange (DSE) fell back into negative territory today (10 December) as cautious investors moved to lock in quick gains, ending the market's brief two-day recovery.
After opening on an optimistic note, the benchmark index DSEX lost momentum midway through the session and ultimately fell 21 points to close at 4,941. The decline snapped the uptrend that had lifted the index over the previous two trading days.
The blue-chip index DS30 also saw a notable pullback, dropping 8 points to settle at 1,899.
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Market breadth remained firmly negative, with 227 scrips declining against just 114 advancing, while 53 remained unchanged – signalling broad-based selling pressure across the bourse.
Turnover, however, offered a glimmer of activity, rising 17% to Tk534 crore. This marked the first time in nine trading sessions that turnover had crossed the Tk500 crore threshold, indicating heightened participation even as selling pressure dominated.
Market analysts noted that despite the setback, the uptick in turnover suggests investors are not entirely stepping back and are instead selectively engaging while tracking political developments and market signals.
In its daily market review, EBL Securities noted that the market's retreat came as bargain hunters shifted to short-term profit booking after the recent rebound.
Investors remained wary of the broader trend amid evolving political signals and preferred to adopt a wait-and-see stance, it said. Although the session started with renewed optimism, selling pressure in the later hours dragged indices lower and reinforced a cautious mood among participants.
Sectoral performance reflected the mixed sentiment. Textile stocks accounted for the highest turnover at 14.5%, followed by pharmaceuticals at 14.1% and engineering at 11.5%.
Most sectors, however, ended with negative returns. Paper, IT and ceramic stocks were the worst performers, shedding 1.8%, 1.5% and 1.5% respectively.
In contrast, Life Insurance, Services and Jute managed to post modest gains, helping soften the overall decline.
Among individual performers, FAS Finance topped the gainers' list with a 10.25% rise, followed by Union Capital, Northern Jute, Trust Islami Life Insurance and HR Textile.
On the losers' board, Anlyma Yarn, Familytex BD, Shyampur Sugar, Premier Leasing and ICB AMCL Second Mutual Fund registered the steepest declines of the session.
Unlike the Dhaka bourse, the Chittagong Stock Exchange (CSE) closed in positive territory. The CSCX index gained 32 points to close at 8,538, while the CASPI index rose 53 points to 13,851. Turnover at the port-city bourse declined 37% to Tk9.91 crore.
