Snapping the single-day bullish run, Dhaka bourse on Tuesday registered a massive fallout as investor confidence was yet to rebound owing to the prevailing concerns about the market outlook amid macroeconomic factors.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), declined 12.3 points to settle at 6,302 against 6,314 in the previous trading session.
Among other indices, the DS30, the blue-chip index, dropped 3.79 points or 0.17 per cent to close at 2,184, and the DSES, the Shariah-based index, fell 2.54 points or 0.18 per cent to 1,367.
Turnover, which is another crucial market indicator, rose by 10.8 per cent to Tk 590 crore as against Tk 533 crore in the previous session.
The life insurance sector topped the turnover chart with a contribution of 25.2 per cent of the total turnover of the DSE, followed by pharma (11.1 per cent) and food (9.3 per cent).
Meghna Life Insurance was the day’s most traded stock with Tk 27 crore worth of its shares changing hands, followed by Eastern Housing Limited (Tk 24 crore), and Gemini Sea Food (Tk 19 crore).
The market started on a flat note, and the sale dominance prevailed for most of the session as cautious investors were continuing partial liquidation of their holdings in order to safeguard their funds from the volatile market, said EBL Securities, a stockbroker, in its daily market review.
Moreover, a portion of investors chose profit booking in life insurance stocks following a short rally in the previous session, another reason for the market plunge, it added.
Most sectors displayed negative returns, with the life insurance falling by 3.0 per cent to become the top sufferer, followed by general insurance (1.7 per cent) and travel (1.3 per cent).
On the other hand, the services grew by 1.6 per cent to become the day’s top performing sector, followed by tannery (0.6 per cent) and jute (0.5 per cent).
Khan Brothers PP Woven Bag Industries Limited was the day’s top gainer with a return of 9.7 per cent, while Meghna Life Insurance suffered the most with a loss of 7.3 per cent.
Out of the issues traded, 55 advanced, 115 declined and 222 remained unchanged.
The port city bourse, CSE, also settled on red terrain, with the selected indices (CSCX), and the all-share price index (CASPI) – declined by 10.8 points and 17.3 points respectively.
