Dhaka stocks down for second consecutive day
Since the beginning of the trading session, stocks have been witnessing selling pressure
The Dhaka Stock Exchange (DSE) indices declined for two consecutive days today (7 November) as investors engaged in profit-taking, selling off their shares amidst high volatility.
The benchmark DSEX index declined by 31 points, closing at 5,316, following an 18-point decline the previous day.
The DSE Shariah Index fell by 4.66 points to 1,187, and the DS30 index slipped 2.21 points to 1,965.
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Turnover at the DSE declined by 17% to Tk541 crore today. About 62% of traded stocks, or 246 companies, saw price declines, while 97 stocks posted gains, and 52 remained unchanged.
Among the 395 stocks traded, 97 gained, 246 declined, and 52 remained unchanged.
The indices opened with a brief dip and then showed mixed movements over the next two hours. In the final hour, they entered a correction phase, continuing to decline until the session closed.
Key stocks that contributed to the decline included Islami Bank, Beacon Pharmaceuticals, BRAC Bank, Kohinoor Chemicals, Linde Bangladesh, City Bank, United Commercial Bank, Eastern Bank, Padma Oil, JMI Hospital Requisite Manufacturing.
EBL Securities, in its daily market commentary, said the DSEX closed in the red as many investors took advantage of recent short-lived gains to book profits.
The market exhibited volatile trading activity as profit-taking began early in the session, with buyers and sellers actively competing to steer market momentum, according to the commentary.
The port city bourse, Chittagong Stock Exchange (CSE), also ended in the red. The CSCX index fell by 13.2 points, while the CASPI index rose by 27.6 points.
