The prime index of the Dhaka Stock Exchange (DSE), the DSEX, continued its bearish trend for the second consecutive trading session as cautious investors decided to take their profits on stocks that had seen notable increases in the past few trading days.
The DSEX lost 61.67 points or 1.11 per cent and closed at 5,506.78. The index came close to the 5500-point mark, a tell-tale signal of nervousness among the investors.
Meanwhile, the blue-chip index, the DS30, and the Shariah-based index, the DSES, closed at 1,942.36 and 1,207.53 points, respectively.
All the large-cap sectors posted negative performance on Thursday's bourse.
Meanwhile, market turnover decreased by 31.3 per cent to Tk 664 crore, compared to the Tk 967 crore recorded during the previous trading session.
The equity indices of the Dhaka bourse extended the losing streak since risk-averse investors preferred to liquidate their holdings in the apprehension of a probable shift in market momentum as sell pressure continued to mount across the trading floor following a sustained uptrend over consecutive sessions, said EBL Securities, a stockbroker, in its daily market review.
Thursday's market review added that the market pulse shifted to an intense downbeat vibe after the first hour of today's session, with the majority of scrips sliding into red territory as cautious investors preferred to reduce their capital market exposure owing to concerns regarding the market outlook.
Out of the total 19, one sector was a gainer, and the rest were on the losing side. Of the 398 scrips traded, 36 advanced, 343 declined, and 18 remained unchanged.
SEAPEARL topped the turnover chart. GHCL was the top gainer, whereas BBSCABLES was the worst sufferer.
Five stocks were traded at their floor prices while shares worth Tk 35 crore were transacted, representing a 5.27 per cent turnover in the block market.
The SME index, the DSMEX, decreased by 6.68 points, with the market generating a Tk 14 crore turnover, a 26 per cent decrease from the previous session.
According to the Royal Capital Financial Portal, SQURPHARMA and BATBC contributed the most to the DSEX's gains and losses on the day, respectively, and the bear took over market control at around 11:30 a.m. and onwards.
NBFI experienced the highest loss of 2.31 per cent, followed by Engineering at 1.81 per cent, Fuel and power at 1.54 per cent, Food and allied at 1.21 per cent, Telecommunication at 1.08 per cent, Bank at 0.97 per cent, and Pharmaceutical at 0.71 per cent, respectively.
Meanwhile, at the port city's bourse, the Chittagong Stock Exchange (CSE) also settled on red as the selected indices, the CSCX and the All-Share-Price-Index, the CASPI, declined by 76.4 and 128.1 points, respectively.
Green for the week
Meanwhile, the Dhaka bourse closed in green this week, with the DSEX gaining 9.22 points and closing the week at 5,506.78 points. However, the DS30 lost 8.98 points and stood at 1,942.36, while the DSES lost 1.17 and stood at 1,207.53 points.
The benchmark index of the capital bourse failed to hold onto the revival spirit despite showing buy dominance in the first three sessions of the week as the market pulse turned back to the correction mode since risk-averse investors preferred to remain watchful of the market's trend following a sustained uptrend over consecutive sessions.
Investors' participation in the market also rebounded, with a single-day market turnover crossing the Tk 1,000 mark after two months. This caused the average turnover to surge by 44.5 per cent to Tk 889 crore, compared to the Tk 615 crore recorded during the previous week's trading.
