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After experiencing a short-lived rally in the previous session, Dhaka stocks entered the red zone yet once again as investors remained unconvinced about the market’s stability soon against the backdrop of the war in Ukraine.
The market was in the positive territory for a brief period in the morning but started to slide into the negative territory as subdued sentiment continued.
With an intraday high of 6,677 and an intraday low of 6,636, the benchmark DSEX index was down 23 points or 0.35 per cent to close at 6,638.
The junior Shariah-based DSES index fell over 6 points or 0.34 per cent to close at 1,454 while the blue-chip DS30 index was up almost 6 points or 0.26 per cent at 2,451.
With respect to volume, a total of 12.5 crore shares have been traded worth Tk 575 crore, down more than 13 per cent over the previous session. NBFI sector dominated the turnover making up 16.65 per cent of the total turnover.
Heavyweight sectors—bank and telecommunications—faced modest selling pressure, dragging the index down. The market draggers included Robi, Beximco, Power Grid, Renata, Beximco Pharmaceuticals, Pubali Bank, Dutch Bangla Bank and Bank Asia.
On the flip side, BATBAC, Walton High-Tech Industries, Sonali Paper, Berger Painting Bangladesh, IPDC, Lafarge Holcim Bangladesh and BSRM Ltd contributed positively to the index.
Stocks remained weaker, giving back all gains seen in the previous session, as investors refocused on the macroeconomic front as the war in Ukraine continued, dealers say.
“Indices failed to retain the upward momentum and again slipped into the red as some investors are taking a cautious stance and favoured to engage in profit booking in the ongoing bearish market,” said EBL in a note.
Out of the 385 issues traded, 92 advanced, 233 declined, and 60 remained unchanged.
The most traded stocks included IPDC, Beximco, Sonali Paper, Lafarge Holcim Bangladesh, Genex Infosys, Nahee Aluminum Composite Panel and Fortune Shoes.
The port city bourse, CSE, also settled in red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) have declined by 29.6 points and 49.2 points respectively.
