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The Dhaka Stock Exchange (DSE) started the week on a dismal note, with a short-lived upbeat vibe during the first hour of the session being overshadowed by the dominant selloffs in the major sectors, pushing the markets lower and ultimately reflecting the waning investor confidence.
The key index DSEX of the Dhaka bourse lost 48.51 points, or 0.89 per cent, and closed at 5,373.54. The blue-chip index DS30 and the Shariah-based index DSES closed at 1,969.52 and 1,191.57 points, respectively.
Most of the large-cap sectors posted negative performance on Monday.
Meanwhile, market participation remained sluggish, with total turnover further decreasing by 6.9 per cent to Tk 350 crore as against Tk 376 crore in the previous session.
Four sectors out of 19 were the gainers, while 15 sectors were on the losing side. Among the 398 scrips traded, 119 advanced, 225 declined and 52 remained unchanged.
EBL Securities said in its daily market commentary that most investors are being cautious ahead of the upcoming corporate earnings declarations, while the prevailing volatility across the trading board induced risk-averse investors to shy away from taking fresh positions in equities.
AGNISYSL topped the turnover chart. CAPITECGBF was the top gainer, whereas RSRMSTEEL was the top loser. One stock was traded at the floor price. In the block market, shares of Tk 9 crore were transacted, representing a turnover of 2.6 per cent.
The SME index, DSMEX, increased by 1.04 points, and the market generated a Tk 3.7 crore turnover, a 57 per cent decrease from the previous session.
According to the Royal Capital Financial Portal, SQUARPHARMA and ISLAMIBANK contributed the most to the gains and losses of the DSEX index on the day, and the bear takes over market control at 11.45 A.M. and onwards.
The port city bourse, the Chittagong Stock Exchange (CSE), also settled on red terrain. The Selected Indices (CSCX) and All Share Price Index (CASPI) declined by 24.2 and 40.6 points respectively.
The port city’s bourse traded 14 lakh shares and mutual fund units with a turnover value of Tk 9.4 crore. Among the issues traded, 85 declined, 84 advanced, and 23 remained unchanged on the CSE.