Large-cap stocks drag indices into red zone
The DSEX shed 4 points, or 0.06%, to settle at 6,268 and the blue-chip index DS30 declined by 5 points to 2,132.
The benchmark index of the Dhaka Stock Exchange (DSE), DSEX, witnessed a decline on Wednesday, primarily driven by a downturn in large-cap stocks.
The DSEX shed 4 points, or 0.06%, to settle at 6,268 and the blue-chip index DS30 declined by 5 points to 2,132.
Square Pharma, Beacon Pharma, Shahjalal Islami Bank, Kohinoor Chemicals, Uttara Bank, and Premier Bank played pivotal roles in the market's decline on the day.
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Among the traded scrips, 145 showed advancement, 177 experienced a decline, and 74 remained unchanged at the DSE.
The DSE turnover slightly declined to Tk887 crore as against Tk898 crore in the previous session.
EBL Securities said in its daily market commentary, that investors were active on both sides of the trading fence owing to subdued confidence, resulting in mild volatility of the market indices throughout the session.
However, a portion of opportunistic investors continued their chase for sector-specific scrips they believed to be at lucrative price levels following the recent corrections, it added.
Investors showed a heightened interest in Central Pharma, a loss-making company, shares, making it the highest turnover stock with a value of Tk46 crore at the DSE, followed by Best Holdings and Fu Wang Ceramic.
The NRB Bank secured the top position on the list of gainers, while Union Capital performed the worst on that day.
Most sectors displayed mixed returns, out of which travel, tannery and jute exerted the most corrections on the bourse, while paper, cement and general insurance exhibited the most positive returns.
