Home ›› 25 Jul 2022 ›› Front
The benchmark DSEX index closed below 6,100-mark on Sunday for the first time in 13 months as the weak macroeconomic outlook worried investors.
It fell 74 points or 1.20 per cent to settle at 6,052, the lowest since June 29, 2021, extending its losing streak for the ninth consecutive session. With the fall, it declined more than 500 points.
Two other indices also ended lower. The DS30 index, comprising blue chips, was down 32.68 points to finish at 2,168 and the DSE Shariah Index or DSES lost 16.72 points to close at 1,328.
“The Dhaka bourse continued to suffer the outrage of panic-driven selling pressure while the prolonged bearish sentiment kept investors busy in liquidating their holdings which took the market to settle below the psychological threshold of 6,100 marks,” said the EBL Securities in a note.
The investors started dumping equities right from the start of the trading session as the market outlook is still bleak and they are still worried about a number of macroeconomic headwinds, including the energy crisis brought on by gas shortages, inflationary pressure and currency depreciation, it said.
Moreover, the Dhaka bourse observed a substantial decline in participation, while total turnover has decreased by 30.4 per cent and stood at Tk 471 crore as against Tk 676 crore in the previous session.
On the sectoral front, Textile (27.6 per cent ) issues exerted the highest turnover followed by Miscellaneous (12.7 per cent ) and Pharma & Chemical (11.5 per cent ) stocks.
All the sectors displayed dismal returns, out of which Service (-1.9 per cent ), Paper (-1.9 per cent ), and Ceramic (-1.9 per cent ) exerted the most negative returns today.
Most of the issues have no buyers due to faced heavy sales pressure, leading to the share price erosion of more than 83 per cent of stocks. Out of 382 issues traded, 318 declined, 42 advanced and 22 issues remained unchanged on the DSE.
Meghna Condensed Milk Industries was the top gainer, soaring 9.82 per cent, while Libra Infusion was the worst loser, losing 5.18 per cent following its corporate declaration.
The port city bourse, CSE, also, settled in red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) have declined by 97.1 and 160.9 points respectively.
