DSEX, the key index of the Dhaka Stock Exchange (DSE), fell for the third consecutive day on Tuesday due to a price fall in large-cap scrips as concerns surround the economic impact of the prevailing unrest.
The index declined by 60.7 points and settled at a five-week low of 5,270 points, down from the previous trading session’s 5,330 points.
Market turnover also fell by 3.9 per cent to Tk 432 crore from the previous session’s Tk 450 crore.
Of the 397 issues traded, 23 advanced, 340 declined and 34 remained unchanged at DSE.
On Tuesday, the stock market opened at 10am and closed at 2pm amid a relaxed curfew. However, it will run as per the regular schedule from Wednesday.
Market insiders said that the indices fell from last week amid worries about the continued unrest's potential to produce economic uncertainty.
In its daily market review, EBL Securities said that the equity indices at DSE shattered into red terrain for consecutive sessions as nervy investors engaged in dominant selloffs to escape further losses owing to the prolonged volatility in the market with no sign of revival yet.
The market pulse remained bearish, with the majority of scrips sliding into red territory as cautious investors still shy away from taking positions in equities amidst uncertainties regarding the market’s outlook due to concerns surrounding the economic impact of the prevailing unrest, it said.
The blue-chip index, DS30, and the Shariah-based index, DSES, closed at 1,881.86 and 1,151.55 points, respectively. All the large-cap sectors posted negative performance on the day.
Block trades contributed 4.1 per cent of the overall market turnover. Techno Drugs Limited was the most traded share with a turnover of Tk 83 crore.
All 19 sectors were on the losing side. TECHNODRUG was the top gainer while PADMALIFE was the top loser. Five stocks were traded at the floor price.
The SME index, DSMEX, also decreased by 31.80 points, and the market generated a Tk 13.8 crore turnover, a 2 per cent increase from the previous session.
According to the Royal Capital Financial Portal, PUBALIBANK and SQURPHARMA contributed the most to the gains and the losses of the DSEX on Tuesday, respectively, and bearish conditions prevailed in the market from the start.
Meanwhile, the Chittagong Stock Exchange (CSE) also ended sharply lower on Tuesday, with the CSE All-Share Price Index, CASPI, losing 132.19 points to settle at 15,141.39 and the Selective Categories Index, CSCX, losing 80.53 points to close at 9,121.12.
Of the issues traded, 165 declined, nine advanced, and 20 remained unchanged at CSE. The port city bourse traded 2.792 million shares and mutual fund units with a turnover value of about Tk 9.58 crore.
