Dhaka stocks slip as margin rule concerns dampen rally
The benchmark DSEX index of the Dhaka Stock Exchange (DSE) fell 6 points to close at 5,897. The blue-chip DS30 index also declined 4 points to settle at 2,200.
Dhaka stocks edged lower today (12 August) as investors booked profits following a recent rally, while caution over potential changes to margin lending rules, along with persistent macroeconomic and geopolitical uncertainties, weighed on market sentiment.
The benchmark DSEX index of the Dhaka Stock Exchange (DSE) fell 6 points to close at 5,897. The blue-chip DS30 index also declined 4 points to settle at 2,200.
Market breadth remained weak, with 231 issues declining against 119 advancing, while 35 remained unchanged. Turnover fell 4% to Tk1,073 crore, reflecting relatively subdued trading activity as investors stayed cautious.
In its daily market commentary, EBL Securities said the benchmark index failed to sustain its upward momentum as investors booked profits and adopted a cautious stance ahead of potential changes to margin rules. Persistent macroeconomic and geopolitical uncertainties also kept investors on the sidelines, the brokerage added.
Keep updated, follow The Business Standard's Google news channel
Sheltech Brokerage attributed the day's trading primarily to profit-taking and cautious investor sentiment. The DSEX opened on strong buying interest, briefly touching an intraday high of 5,943.52 points, before the momentum faded as selling pressure emerged and intensified through the session. The index slid to an intraday low of 5,893 points. A late-session rebound attempt failed to gain sufficient traction to offset the selling pressure, leaving the benchmark to close near its day's low.
Although a late-session rebound attempt emerged, it lacked sufficient strength to offset the selling pressure, leaving the benchmark close to its day's low.
On the sectoral front, textile stocks dominated trading, accounting for 22.8% of total turnover. General insurance followed with 17.9%, while pharmaceuticals accounted for 8.8%.
Sectoral performance was mixed. Jute gained 2.4%, ceramic advanced 1.3% and textile rose 1.1%, emerging as the top-performing sectors.
Meanwhile, mutual funds recorded the highest correction, falling 2.2%. Life insurance declined 1.9% and financial institutions dropped 1.3%.
Metro Spinning was the day's top gainer, rising 9.37%, followed by Nurani Dyeing, which gained 9.09%. Tung Hai Knitting advanced 8.69%, Saiham Textile rose 7.80% and BD Lamps gained 6.76%.
Premier Leasing led the losing stocks, falling 8%. LR Global Mutual Fund One declined 6%, while Peoples Leasing dropped 5.26%. ICB Agrani Bank Mutual Fund 1 fell 5.20% and GSP Finance declined 4.76%.
The Chittagong Stock Exchange (CSE), however, ended higher. Its CSCX index gained 11 points to close at 9,645, while the CASPI index rose 37 points to 15,828. Trading activity on the CSE remained subdued, with turnover plunging 75% to Tk17.99 crore.
