DSE sees positive momentum in first 2 hours of session, loses 60 points in final hours
Initially, the market opened in the green terrain, with the DSEX climbing 55 points to 5,252 by 11:18am
The Dhaka Stock Exchange (DSE) was unable to keep its positive note today (28 November) as the benchmark DSEX index experienced a sudden dip in the final three hours of trading, losing 60 points under significant selling pressure.
Initially, the market opened in the green terrain, with the DSEX climbing 55 points to 5,252 by 11:18am. However, the wave of selling pressure led to the sharp decline, leaving the index to settle at 5,192, losing 5 points overall.
The blue-chip DS30 index also dipped slightly, ending the day 1 point lower at 1,916.
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Among the traded stocks, 125 advanced, 196 declined, and 69 remained unchanged, according to DSE data.
Meanwhile, trading activity saw a slight uptick, with turnover rising by 5% to Tk473 crore compared to the previous session.
In its daily market commentary, EBL Securities said the benchmark index of the Dhaka bourse failed to hold onto the short-lived recovery mode, with investor sentiment remaining subdued amidst uncertainties regarding the market momentum.
Despite the market opening higher, extending the positive momentum from the previous session, cautious investors' subsequent profit booking spree due to shaky market confidence dragged down the indices again, the report added.
On the sectoral front, bank stocks contributed the highest turnover at 17.9%, followed by pharmaceuticals at 12.6% and food at 9.7%.
NRB Bank was the top traded stocks in terms of value, with Tk24.20 crore, followed by Genex Infosys with Tk12.16 crore and Bangladesh Shipping Corporation at Tk10.77 crore.
Most of the sectors displayed mixed returns, out of which ceramic, travel and pharma exerted the most gains while jute, non-bank financial institution and services exerted most corrections on the bourse.
HR Textile topped the gainers' chart with a 9.81% increase, closing at Tk29.1 per share. Mir Akhter followed with a 9.70% rise, and Emerald Oil gained 8.65%.
Meanwhile, Maksons Spinning was the worst performer on the day as its share price dropped by 6.32% to close at Tk7.4 following the company's no dividend declaration for the last fiscal year. Zeal Bangla Sugar, Aman Cotton, and Atlas Bangladesh were also among the day's top losers.
The port city bourse, Chittagong Stock Exchange, however, settled on green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) rose by 39.2 and 62.8 points, respectively.
