DSEX, the key index of the Dhaka Stock Exchange (DSE), dipped into a two-week low on Tuesday driven by massive selloffs from jittery investors, owing to the enduring pessimism pervading the trading floor amid subdued market sentiment.
The key index lost 81.14 points or 1.43 per cent and closed at 5,585.62 at the end of trading. The blue-chip index, DS30, and the Shariah-based index, DSES, closed at 1,991.93 and 1,225.77 points, respectively.
All the large-cap sectors posted negative performance on Tuesday.
Meanwhile, market turnover decreased by 31.4 per cent to Tk 664 crore, from the previous session’s Tk 968 crore.
At the end of the day, the market capitalisation fell by Tk 7,120 crore to Tk 7.04 lakh crore on the Dhaka bourse.
Pharmaceuticals experienced the highest loss of 1.63 per cent followed by Fuel and Power, Food and Allied, Engineering, Telecommunication, Bank, and NBFI, respectively.
The block trades contributed 5.3 per cent of the overall market turnover. eGeneration Limited was the most traded share, with a turnover of Tk 28 crore.
Market insiders said that the sellers remained predominant right from the start of Tuesday’s session as they were apprehensive regarding the market's momentum, which led the majority of scrips to get stuck at the revised lower circuit without having sufficient buyers.
The capital bourse started the week on a positive note as buyers regained their dominance across the trading floor, while the recent media reports regarding fresh capital injection by ICB have also contributed to the slight rebound in investor sentiment.
Besides, Prime Minister Sheikh Hasina at the meeting of the Executive Committee of the National Economic Council last Tuesday also directed that state-run companies should be listed in the capital market.
DSE and the DSE Brokers Association (DBA) have congratulated and thanked the prime minister for the directive.
Describing this directive as timely and positive, DSE Chairman Hafiz Muhammad Hasan Babu said that aside from enhancing the dynamics of the capital market, it will also contribute to attracting foreign investment and fostering the sustainable development of the capital market.
Out of the 396 issues traded on Tuesday, 29 advanced, 339 declined and 28 remained unchanged at the Dhaka bourse.
In its daily market review, EBL Securities said that the benchmark index of the capital bourse dipped into a two-week low driven by massive selloffs from jittery investors, owing to the enduring pessimism pervading the trading floor amid subdued market sentiment and concerns over the market outlook.
Meanwhile, the Chittagong Stock Exchange (CSE) also settled on red terrain on Tuesday, with the selected indices, CSCX, and the CSE All Share Price Index, CASPI, declining by 103.8 and 170.9 points, respectively.
The port city bourse also saw trade of 4.2 million shares and mutual fund units with a turnover volume of Tk 14.7 crore.
