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The Dhaka Stock Exchange (DSE) extended its bearish momentum for the third day Tuesday since investors took a cautious stand by staying sidelines in the choppy market, anticipating dismal fresh earnings declarations.
The DSEX, the broad index of the Dhaka bourse, declined 21.9 points or 0.33 per cent to settle at 6,489 against 6,511 points in the previous trading session.
Besides, the DS30, the blue-chip index, shed 15.47 points or 0.68 per cent to close at 2,316, and the DSES, the Shariah-based index, dropped 7.42 points or 0.52 per cent to finish at 1,413.
The see-saw trend of investors prevailed across the bourse, which led the majority of the stocks to extend their corrections, said EBL securities, a stockbroker, in its daily market review.
Moreover, the ongoing bleaker global economy, as well as the domestic macroeconomic strains, prompted investors to partially book profits from the recently rallied stocks as concerns loomed centring a possible dismal outlook in the upcoming corporate declarations, it commented.
Meanwhile, the premier bourse observed a slight increase in participation with the total turnover rising by 14.9 per cent to Tk 1,494.1 crore versus Tk 1,300.2 crore in the previous session.
On the sectoral front, pharma & chemical topped the turnover chart with a 16.6 per cent contribution to the total turnover, followed by miscellaneous (15.8 per cent) and services (9.2 per cent).
Most of the sectors displayed dismal returns on the DSE.
Of them, the jute sector suffered the most with a 1.9 per cent loss, followed by cement, and miscellaneous; while services, travel, and IT posted some positive returns on the prime bourse.
Out of the 387 issues traded, 61 stocks advanced, 135 issues declined, and 191 scrips did not see any price movement.
On the other hand, the Chittagong Stock Exchange (CSE), the port city bourse, also closed lower on the day with CSCX and the CASPI giving up 11 points and 18 points respectively.
