Stocks fall for seven days in a row

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), declined for seven consecutive sessions, falling by 320 points to settle at 5,371 points today (21 May) as stocks at the bourse have been in a volatile situation recently amid a lack of investor confidence, a liquidity crunch, and rising interest rates.

Meanwhile, turnover slightly increased by 5.4% to Tk591 crore, and market capitalisation dropped by Tk22,246 crore over the seven-day downward trend to Tk6.89 lakh crore.

Of the stocks traded at the DSE, 102 advanced, 235 declined, and 56 remained unchanged.

On the day, DSEX declined by 22 points, despite the day beginning on a positive note.

EBL Securities said in its daily market commentary that the capital bourse failed to withstand the prolonged downbeat vibe despite showing slight resilience during the early hours of the trading session as sellers regained control owing to concerns over market momentum amid enduring pessimism across the trading floor.

"Despite a positive start, with the benchmark index surging over 90 points in the first hour of trading following some recent regulatory moves, the morning optimism failed to sustain itself for long as risk-averse investors continued their sell frenzy due to the confidence crisis and subdued market sentiment," the commentary reads.

Yeakin Polymer topped the gainers list with a rise of 9.94% to Tk21 each, followed by Mithun Knitting and Dyeing with a 9.73% increase to Tk32.7 each, and Bangladesh Industrial Finance Company with a 9.09% rise to Tk8.4 each.

Sikder Insurance Company led the decliners list, falling by 3% to Tk29.1 each, followed by Unilever Consumer Care, which dropped by 2.99% to Tk2,270 each, and Sonali Paper, which also decreased by 2.99% to Tk353 each.

The port city bourse, Chittagong Stock Exchange (CSE), also settled in the red terrain.

The selected indices (CSCX) and the All Share Price Index (CASPI) lost 31.8 and 46.8 points, respectively.