Stocks continue losing streak for four days
On the day, the benchmark index DSEX of the Dhaka Stock Exchange (DSE) dropped more than 10 points to close at 5,728, while the blue-chip index DS30 ended 1 point higher at 2,114
Stocks continued their downward trend for the fourth consecutive session on Thursday (5 September), with investor confidence diminishing due to ongoing economic uncertainty.
On the day, the benchmark index DSEX of the Dhaka Stock Exchange (DSE) dropped more than 10 points to close at 5,728, while the blue-chip index DS30 ended 1 point higher at 2,114.
Over the last four sessions, the DSEX has lost 100 points, and the market capitalisation has decreased by Tk9,300 crore, ending at Tk6.92 lakh crore. The turnover – a crucial market indicator – rose by 14% to Tk675 crore. Among the traded issues, 98 advanced, 250 declined, and 47 remained unchanged.
The Chittagong Stock Exchange (CSE) also closed in the red, with its general index CSCX falling by 32 points to 9,875, and the all-share price index CASPI dropping 59 points to 16,378.
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EBL Securities, in its daily market commentary, noted, "The prime bourse of the country experienced another session of see-saw trading due to investors' continued cautious selling approach, which led the market to extend its downtrend for four consecutive sessions."
Market volatility persisted as sellers dominated, while opportunistic investors preferred to observe the market's trend and hold cash to look for lucrative investment opportunities following the corrections, it added.
Investors are also being cautious ahead of upcoming corporate earnings declarations and are seeking quick gain opportunities, the daily market review said.
Sector-wise, fuel and power stocks accounted for the highest turnover, contributing 19.4% to the total turnover at the DSE, followed by bank stocks at 19%, and pharma at 12.4%.
Linde Bangladesh topped the turnover table with a value of Tk102 crore after declaring its highest-ever interim dividend and posting significant profit growth due to capital gains from selling a subsidiary. Other top turnover firms included Olympic Industries, IBN Sina Pharma, and IFIC Bank.
Most sectors showed poor returns, with the jute, engineering, and paper sectors experiencing the most corrections on the DSE, while fuel and power stocks exhibited slight positive returns.
Linde Bangladesh was the top gainer, with its share price jumping 18%. It was followed by NRB Bank and Reliance One Mutual Fund. Rupali Life Insurance, Prime Finance First Mutual Fund, and LankaBangla Finance were the worst performers of the day.
