72% of stocks decline; DSEX slips 43 points

The DSEX, the broad index of the DSE, also plunged by 43 points, following a significant drop of 83 points in the previous session. 

The DSE Shariah and DS30 indices also ended in the red, with turnover slightly lower than the previous session as market participation remained sluggish. 

Stocks experienced a volatile session on Monday, and from the middle of the trading day, selling pressure intensified significantly, dragging the indices down despite the market opening on a positive note. 

By the close of the session, Islami Bank's share price had increased by 4.69%, boosting the DSEX by 4 points, while Grameenphone dragged the index down by 7 points, according to Amarstock. 

With the 43-point decline, the DSEX settled at 5,335 points, while the DSE Shariah index fell by 1.47 points to 1,189, and the DS30 index dropped by 22 points to 1,942. 

Turnover stood at Tk366 crore, a slight decrease from Tk368 crore in the previous session.

Seven companies contributed Tk115 crore to the total turnover, with the top traded companies being Midland Bank, Agni Systems, Islami Bank, BRAC Bank, Lovello, Grameenphone, and Square Pharmaceuticals. 

Out of the total traded stocks, 53 advanced, 288 declined, and 58 remained unchanged. 

In its daily market commentary, EBL Securities noted that the downbeat capital market failed to recover from the persistent pessimism dominating the trading floor, as selling pressure continued to weigh heavily amid subdued sentiment and rising concerns over the market outlook. 

"Investors are shying away from taking fresh positions in equities, while losses continue to mount on their already hampered portfolios," the commentary stated. 

"Despite the indices showing slight resilience until mid-session due to price appreciation in certain bank stocks, the subsequent selling spree eroded most of the early gains, returning the market to its prolonged bearish mode," it added. 

On the sectoral front, the banking sector accounted for the highest share of total turnover at 29.1%, followed by pharmaceuticals at 14.8% and the IT sector at 11.7%. 

Islami Bank topped the list of gainers, with a 4.69% increase in its share price to Tk58 each, followed by Mercantile Insurance with a 4.60% rise to Tk25, and Islamic Finance and Investment, which gained 4.34% to reach Tk14.4. 

Meanwhile, National Tea Company led the losers' list as its share price fell by 8.74% to Tk215 each, followed by Bangladesh Submarine Cable, which dropped 7.66% to Tk120.4, and Renwick Jajneswar & Company (BD), down 7.20% to Tk673.1. 

The port city bourse, the Chittagong Stock Exchange (CSE), also ended in the red, with the CSCX and All Share Price Index (CASPI) falling by 88.1 and 154.5 points, respectively.