DSEX, the key index of the Dhaka Stock Exchange (DSE), failed to hold onto the revival spirit on Monday as investors turned back to their selling mode after a two-day break owing to the wavering confidence across the trading floor.
Meanwhile, trading activities remained stagnant while market turnover inched up by 0.4 per cent to Tk 468 crore, from the previous session’s Tk 467 crore.
Market insiders said that the index fell as panic-driven sell pressure continued to dominate the market owing to the enduring pessimism pervading the trading floor.
DSEX lost 68.32 points or 1.17 per cent and closed at 5,761.38. The blue-chip index, DS30, and the Shariah-based index, DSES, closed at 2,007.34 and 1,251.65 points, respectively. All the large-cap sectors also posted negative performance on Monday.
The market witnessed a downward trend throughout the session as investors shied away from taking positions in equities and opted to stay on the sidelines to observe the market momentum amidst the prolonged subdued market sentiment, EBL Securities said in its daily market review.
Out of 397 issues traded, 315 declined, 47 advanced and 35 remained unchanged on the DSE trading floor.
SPCERAMICS topped the turnover chart, followed by CENTRALPHL, FUWANGCER, ASIATICLAB, and MALEKSPIN. MERCINS was the day's top gainer, posting a 4.98 per cent gain, while EMERALDOIL was the worst loser, losing 9.82 per cent.
The Chittagong Stock Exchange (CSE) also ended sharply lower on Monday, with the CSE All Share Price Index, CASPI, losing 117.04 points to settle at 16,511.67 and the Selective Categories Index, CSCX, losing 72.29 points to close at 9,926.63.
Of the issues traded, 136 declined, 62 advanced and 18 remained unchanged on the CSE.
The port city bourse traded 25.08 lakh shares and mutual fund units with a turnover value of about Tk 8.16 crore.
Market insiders said that the recent market failed to hold onto the revival spirit as investors turned back to their selling mode after a two-day break owing to the wavering confidence across the trading floor.
The market extended its uptrend in the first hour of the session; however, subsequent choppy trading caused the core index to tumble and close in the red territory again after a short-lived uptrend in the previous two sessions.
The downbeat capital market extended its free fall as panic-driven sell pressure continued to dominate the market owing to the enduring pessimism pervading the trading floor amid subdued market sentiment and rising tensions over the market outlook, they said.
The market pulse shifted to correction mode again after a recent short-lived period of optimism due to waning investor confidence stemming from the prolonged bearish vibe in the market. Cautious investors prefer to stay on the sidelines until the market experiences a major trigger to regain positive momentum.
The persistent volatility in the market has prompted cautious investors to partially liquidate their holdings and remain on the sidelines until there is any clear indication regarding market momentum, market insiders said.
According to the daily market update by BRAC EPL Stock Brokerage, NBFI experienced the highest loss of 2.35 per cent. Block trades contributed 4.6 per cent of the overall market turnover at DSE.
Shinepukur Ceramics Limited (+3.0%) was the most traded share with a turnover of Tk 32.5 crore.
