The key index of the Dhaka Stock Exchange (DSE) on Tuesday closed in red territory for the second consecutive session as sellers regained control after a short-lived positive momentum till the mid-session due to the weakened strength of the market trend.
Market turnover also decreased by 5.1 per cent to Tk 635 crore, down from the previous session’s Tk 670 crore.
The DSEX lost 30.17 points, or 0.53 per cent, and closed at 5,681.60. The blue-chip index, DS30, and the Shariah-based index, DSES, closed at 2,068.61 and 1,238.19 points, respectively.
Most of the large-cap sectors posted negative performance on Tuesday.
Of the 397 issues traded, 154 advanced, 176 declined and 67 remained unchanged at DSE.
EBL Securities in its daily market review said that the market opening higher riding on the price appreciation of particular sector-specific issues, risk-averse investors' cautious selling approach eroded most of the early gains and pushed the core index to dip into negative territory again.
However, the forthcoming declaration of June-end corporate earnings is expected to invigorate market activity, providing investors with opportunities to capitalise on positive earnings calls, it said.
Engineering experienced the highest loss of 1.23 per cent followed by Pharmaceutical at 1.09 per cent, Telecommunication at 0.77 per cent, Bank at 0.67 per cent, Food & Allied at 0.52 per cent, Fuel & Power at 0.17 per cent, and NBFI at 2.11 per cent.
Block trades contributed 3 per cent of the overall market turnover. Sonali Aansh Industries was the most traded share with a turnover of Tk 21 crore.
The Chittagong Stock Exchange (CSE) also settled on red terrain on Tuesday. The selected indices, CSCX, and All Share Price Index, CASPI, declined by 28.1 and 41.7 points, respectively.
Last Sunday, DSEX fell by 14.74 points and closed at 5,711.77, while market turnover dropped by 8.8 per cent, settling at Tk 669 crore. The blue-chip and Shariah-based indices also saw declines as the DS30 and the DSES closed at 2,085.53 and 1,246.68 points, respectively, with most large-cap sectors posting negative performances.
On the day, out of 398 traded stocks, 182 had declined, 169 advanced and 46 remained unchanged at DSE, reflecting the cautious sentiment among investors. Meanwhile, market turnover decreased by 8.8 per cent and settled at Tk 669 crore compared to the Tk 733 crore recorded in the previous session.
LINDEBD topped the turnover chart. SKTRIMS was the top gainer and TRUSTB1MF was the worst.
The SME index, DSMEX, decreased by 0.04 points and the market generated a Tk 5 crore turnover, a 65 per cent decrease from the previous session’s records.
The port city bourse also settled on red terrain last Sunday with CSCX and CASPI declining by 12.5 and 21.3 points, respectively.
