The key index DSEX of the Dhaka bourse continues its decline, weighed down by prolonged pessimism and an absence of positive catalysts to boost investor sentiment, leaving the bourse in a state of never-ending strain for investors.
Meanwhile, market participation remained sluggish as cautious investors preferred to remain on the sidelines and monitor the market momentum, with total turnover further decreasing by 6.8 per cent to Tk 296 crore as against Tk 318 crore in the previous session.
The stock exchange experienced a significant dip in turnover, falling below Tk 300 crore for the first time in 48 days.
The key index DSEX lost 49.75 points or 0.93 per cent and closed at 5,316.21. The blue-chip index DS30 and the Shariah-based index DSES closed at 1,947.98 and 1,182.88 points, respectively. Most of the large-cap sectors posted negative performance on Wednesday.
Only four sectors out of 19 had gainers, while 15 sectors were on the losing side. Of the 398 scrips traded, 53 advanced, 300 declined and 42 remained unchanged.
LOVELLO topped the turnover chart. LIBRAINFU was the top gainer, whereas UNIONINS was the top loser. One stock was traded at the floor price.
In the block market, shares of Tk 17.8 crore were transacted, representing a turnover of 6 per cent. The SME index, DSMEX, decreased by 13.52 points, and the market generated a Tk 5.2 crore turnover, a 41 per cent increase from the previous session.
According to the Royal Capital Financial Portal, SQUARPHARMA, and ISLAMIBANK contributed the most to the gains and the losses of the DSEX index on the day, and the bear takes over the market control at 12.45PM and onwards.
EBL Securities said in its daily market commentary that the market witnessed day-long volatility, with sellers mostly being dominant across the trading board, causing the majority of scrips to extend their correction mode while only a handful of selective stocks remained resilient throughout the session.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower, with its All Share Price Index (CASPI) losing 75.32 points to settle at 14,972, while the Selective Categories Index (CSCX) dropped by 43.5 points to 9,100.
The port city bourse traded 6.71 million shares and mutual fund units, with a turnover volume of Tk 7.9 crore.
