Stocks break 5-day winning streak

Dhaka stocks closed marginally lower on Sunday, breaking a 5-day winning streak. DSEX, the key index of the Dhaka Stock Exchange, inched down by 8 points and settled at 6,304.

“The equity indices of the Dhaka Stock Exchange ended lower as the participants showed mixed reactions amidst a sudden upsurge of fuel prices in the country,” said the EBL Securities in a note.

The investors were active on both sides of the trading fence while the sellers dominated the market as uncertainties loomed, riding on the fear of surging living costs and production costs, along with other concurrent macroeconomic issues that somewhat faded the reinstated investors’ optimism brought up by the recent favorable regulatory actions, it said.

However, the existence of floor price mechanism has been providing support to the market and taming the panic-driven sales across the bourse.

Meanwhile, the Dhaka bourse observed a slight decrease in participation as the total turnover inched down by 6.1 per cent and stood at Tk 1,117 crore as against Tk 1,190 crore in the previous session.

On the sectoral front, textile (25.0 per cent) issues exerted the highest turnover followed by pharma (12.1 per cent) and miscellaneous (11.4 per cent) stocks.

Most of the sectors displayed mixed returns, out of which travel (6.2 per cent), cement (2.9 per cent) and food (1.3 per cent) exerted the highest returns on the bourse today, while general insurance (-2.0 per cent), ceramic (-1.9 per cent), and life insurance (-1.8 per cent) exerted the most corrections.

Out of the 386 issues traded, 124 advanced, 187 declined, and 75 remained unchanged.

The port city bourse, CSE, also, settled in red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) have declined by 3.8 and 5.9 points respectively.