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The benchmark DSEX index on Thursday fell below the 6,000-level as the market reacted to developments on the economic fronts.
The index was down by 57 points or 0.95 per cent at 5,980—the level not seen before June 7, 2021 when it was 5975. With the fall, it extended losses for the second consecutive session.
The decline was led by the financial, engineering, textile and telecom sectors. The former came in for active selling on reports of likely imposition of service charges followed by fears of slow growth, while the latter on foreign selling.
The blue-chip index DS30 on the other hand also suffered a loss of 11 points or 0.88 per cent at 1,308 and the Shariah-based index DSES declined over 17 points or 0.81 per cent at 2,145.
Selling pressure was witnessed across the board, particularly on financials and textile-sector stocks.
The DSE turnover was sharply down by 43.25 per cent to Tk 441 crore backed by textile sector that accounted for 16.36 per cent of the total turnover.
“Economic uncertainty rattles investor confidence,” said a leading analyst at a brokerage firm.
Economic numbers including a high inflation rate and dwindling foreign exchange reserve left investors perturbed, he said. Among the scrips, most points taken off the index were Walton Hi-Tech Industries (-4.65 points), Robi (-3.69 points), United Power Generation & Distribution Company (-1.88 points), Beximco (-1.85 points) and British American Tobacco Bangladesh Company (-1.83 points).
“The Equity indices of Dhaka bourse tumbled on back to back sessions as investors’ sentiment is still negative across the bourse riding on the lack of confidence in the regulatory actions as well as the fear of recent macroeconomic headwinds, which took the market to settle below the psychological threshold of 6,000-mark,” said the EBL securities in a note.
