Home ›› 19 Oct 2022 ›› Stock
Dhaka stocks extended their falling trend for the fourth consecutive day on Tuesday as investors opted to partially liquidate their holdings and reshuffle their portfolios, owing to a bleak expectation from the upcoming corporate declarations.
The DSEX, the broad index of the Dhaka Stock Exchange (DSE), dropped 12.3 points or 0.19 per cent to settle at 6,401 points against 6,413 points in the previous trading session.
The DSES, the Shariah-based index, however, marginally advanced by 0.06 points to close at 1,406, and the DS30, the blue-chip index, edged up 0.1 points to 2,277.
Meanwhile, the Dhaka bourse observed a significant decrease in participation while the total turnover declined by 22.5 per cent to Tk 1,005 crore from Tk 1297.8 in the previous session.
After the first hour of trading, the market observed intense selling pressure across-the-bourse, pushing the core index down by around 50 points until the mid-session. However, a subsequent buying spree on some sector-specific stocks helped recover from the initial plunge, said EBL Securities, a stockbroker, in its daily market review.
Investors were yet to regain confidence on the trading floor as they were still concerned about the market outlook amidst the current macroeconomic strains in the country, it commented.
On the sectoral front, pharma and chemical topped the turnover chart with a contribution of 22.3 per cent to the total turnover, followed by engineering (16.5 per cent) and miscellaneous (12.4 per cent) sectors.
Most of the sectors displayed dismal returns, out of which the paper sectors posted the highest correction of 2.4%, followed by IT (2.4 per cent) and travel (1.4 per cent).
Out of the 388 issues traded, 49 stocks advanced, 100 scrips declined, and 239 issues remained unchanged on the trading floor of the DSE.
