DSE falls for 2nd straight session amid fuel price hike, Gulf tensions
DSEX fell 10 points to 5,540, with 227 stocks declining and daily turnover rising slightly to Tk791 crore.
The Dhaka Stock Exchange (DSE) extended its losing streak for a second consecutive session today (22 September), as concerns over potential domestic fuel price hikes and escalating geopolitical tensions in the Gulf continued to weigh on investor sentiment.
The benchmark DSEX index fell 10 points, or 0.18%, to settle at 5,540. The blue-chip DS30 index, however, edged up 0.25 points to close at 2,106.
Market breadth remained firmly negative, with 227 issues declining, compared with 103 advancing and 55 remaining unchanged. Meanwhile, daily turnover rose slightly to Tk791 crore from the previous session.
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According to EBL Securities' daily market review, the capital market faltered in its recovery attempt as investors maintained a cautious stance amid persistent uncertainties.
Concerns over elevated inflationary pressures and their potential impact on corporate profitability prompted investors to reduce their equity exposure, the brokerage said.
Trading remained volatile throughout the session, with selling pressure regaining momentum after the mid-session, it added.
Sheltech Brokerage Limited noted that the session was characterised by a tug-of-war between bargain hunters and profit-takers following deteriorating market sentiment.
On the sectoral front, textile led the turnover chart by accounting for 18.3% of the total transaction value, followed by general insurance at 14.6% and pharmaceuticals at 13.9%. Most sectors posted negative returns, with services falling 1.1%, life insurance losing 1.0%, and travel dropping 0.9%. Conversely, mutual funds, ceramic, and engineering managed marginal gains of 1.1%, 0.5%, and 0.3% respectively.
Dominage Steel Building Systems emerged as the most-traded stock of the day and also topped the gainers' chart with a 9.98% surge. Other top turnover leaders included Eastern Bank, Square Pharmaceuticals, Saiham Textile, and Anwar Galvanizing. Among other top gainers, Information Services Network jumped 9.92%, First Prime Finance Mutual Fund rose 9.85%, ICB AMCL Second Mutual Fund advanced 9.09%, and Orion Infusion gained 8.74%.
Conversely, New Line Clothings led the losers' list, dropping 5.26%. It was followed by Metro Spinning, which lost 5.10%, Tung Hai Knitting down 4.87%, Mercantile Bank declining 4.54%, and Familytex sliding 4.16%.
The port city's bourse, the Chittagong Stock Exchange (CSE), displayed a mixed trend. The selective CSCX index managed a modest gain of 3 points to close at 9,091, while the all-share price index, CASPI, dropped 6 points to end at 14,815.
