DSEX falls again
The DSE turnover increased to Tk767 crore, 17.71% higher than Tk652 crore on Tuesday
Following gains in the previous trading session, indices at the Dhaka and Chittagong stock exchanges plunged on Wednesday as investors remained shaky.
Although the indices maintained an upward trend at the beginning of the trading session, they finally declined at the close.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 2.81 points to settle at 6,754, and the blue-chip index fell 2 points to settle at 2,536.
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The DSE turnover increased to Tk767 crore, 17.71% higher than Tk652 crore on Tuesday.
Due to the downfall, the majority of the stocks closed in red territory. Out of 377 issues traded, 142 advanced, 186 declined, and 49 remained unchanged.
In the previous trading session on Tuesday, indices increased after two days due to an increase in the prices of some large-cap companies.
The port city bourse, Chattogram Stock Exchange (CSE), also settled in the red terrain on Wednesday.
The selected indices (CSCX) and All Share Price Index (CASPI) inched down by 8.4 points and 12.8 points, respectively.
EBL Securities said in a daily market commentary, Dhaka stocks failed to uphold the positive momentum as investors remained shaky on the bourse due to the absence of favourable macroeconomic conditions.
"Pessimism on the trading activities was observed due to a host of reasons such as BB-BSEC tussle and liquidity crunch, which have kept investors on the sidelines as they prefer to observe market momentum further," reads the commentary.
On the sectoral front, miscellaneous contributed 14.19% in the turnover followed by general insurance 12.96%, and bank stocks 9.88%.
Most of the sectors displayed mixed performance, out of which general insurance (3.0%), paper (2.6%), and life insurance (1.3%) have demonstrated the most positive returns.
While cement (-1.5%), mutual fund (-0.5%), and ceramic (-0.4) observed the most corrections on the bourse.
Among all the listed firms, Style Craft was the top gainer followed by Asia Insurance, and Bangladesh National Insurance.
Style Craft gained 9.93% to close at Tk136 each, Asia Insurance 8.7%, and Bangladesh National Insurance 8.56%.
However, Paper Processing and Packaging was the worst share, which fell 6.42% followed by Zeal Bangla 6%, and National Tea Company 5.88%.
