DSEX, the key index of the Dhaka Stock Exchange (DSE), on Tuesday extended its downbeat vibe for four straight sessions as investor concerns remained vigilant.
Meanwhile, cautious investors preferred to remain on the sidelines and monitor the market momentum, which is evident from the decreased market participation as total turnover fell by 35.7 per cent to Tk 518 crore from the previous session’s Tk 807 crore.
DSEX lost 60.14 points, or 1.04 per cent, and closed at 5,715.36. The blue-chip index, DS30, and the Shariah-based index, DSES, closed at 2,093.27 and 1,229.70 points, respectively.
Dhaka stocks appeared to be headed towards below 5,700 points as most of the large-cap sectors posted negative performance on Tuesday.
Market insiders said that the DSE extended its downbeat vibe for four straight sessions as investor concerns remained vigilant due to the prevailing volatility and weakened market strength, with confidence yet to rebound following the introduction of new leadership in the stock market regulator.
Sellers remained predominant across the trading floor, causing the majority of scrips to extend their correction mode, EBL Securities said in its daily market review.
DSEX was in a downtrend throughout the day, with a 0.70 per cent decrease in the market cap compared to the previous trading session.
Meanwhile, volume dipped by 36 per cent and turnover decreased by 36 per cent. Three out of 19 sectors were gainers and 16 were on the losing side.
Of the 398 scrips traded, 64 advanced, 301 declined and 32 remained unchanged at DSE.
GP topped the turnover chart. AMANFEED was the top gainer while SEMLFBSLGF was the top loser. Four stocks were traded at the floor price.
In the block market, shares of Tk 19.5 crore were transacted, representing a turnover of 3.76 per cent.
The SME index, DSMEX, decreased by 23.32 points and the market generated a Tk 8 crore turnover, a 24 per cent increase from the previous session.
According to the Royal Capital Financial Portal, BRACBANK and SQURPHARMA contributed the most to the gains and losses of the DSEX on the day, and the bear took over market control at 11:10am and onwards.
The Chittagong Stock Exchange (CSE) also ended sharply lower on Tuesday with the CSE All Share Price Index, CASPI, losing 185.92 points to settle at 16,430.21 and the Selective Categories Index, CSCX, shedding 113.75 points to close at 9,892.42.
Of the issues traded, 153 declined, 39 advanced and 23 issues remained unchanged at CSE.
The port city bourse traded 3.602 million shares and mutual fund units with a turnover value worth about Tk 9.19 crore.
Market insiders said that the lack of leadership on the DSE has created uncertainty among investors. Due to this, investors are taking some caution when making new investments.
After the Sheikh Hasina-led government fell in a mass uprising on August 5, many of the investors who were active in the market took their profits and went back to the sidelines. Due to this, the sales pressure in the market has increased but there are fewer buyers, they said.
Hafiz Md Hasan Babu resigned as the DSE chairman citing personal reasons on Sunday night. He submitted a resignation letter to the Bangladesh Securities and Exchange Commission (BSEC) through an email, and a copy of the resignation was also sent to the top DSE officials.
The resignation came a week after the DSE Brokers Association (DBA) demanded his removal from the post.
On August 10, the then BSEC chairman Prof Shibli Rubayat-Ul Islam resigned along with two other commissioners — Prof Rumana Islam and Shaikh Shamsuddin Ahmed.
The Financial Institutions Division of the Ministry of Finance issued a circular last Sunday announcing the appointment of banker Khondoker Rashed Maqsood as the new chairman of the stock market regulator for the next four years.
