The DSEX dropped 51 points to close at 5,333, while the blue-chip DS30 index declined 26 points to settle at 2,042, dragged down by sharp losses in major heavyweight stocks.
The country’s benchmark stock index fell to a five-month low today (2 November) as investors remained cautious amid ongoing third-quarter earnings disclosures and rising domestic and global uncertainties, triggering widespread sell-offs.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 51 points to close at 5,333, while the blue-chip DS30 index declined 26 points to settle at 2,042, dragged down by sharp losses in major heavyweight stocks.
Investor sentiment remained weak throughout the session, with risk aversion discouraging fresh investments amid a lack of positive market catalysts.
Turnover on the Dhaka bourse fell 13% to Tk418 crore from the previous session, reflecting subdued investor participation.
Sector-wide selling pressure swept the exchange, resulting in 249 issues declining, 86 advancing, and 51 remaining unchanged by the end of the day.
Market analysts at EBL Securities highlighted that the equity market suffered another bruising session as persistent caution surrounding corporate financial disclosures continued to weigh heavily on investor sentiment, while a lack of positive triggers kept buyers on the sidelines.
Brokerage firm Sheltech Brokerage noted that the index breached key support levels amid compounding anxieties including domestic business concerns stemming from recent RMG worker protests, geopolitical tension in the Middle East following US midterm elections, and mixed Q3 earnings announcements.
Sectoral activity saw textile stocks dominating liquidity with a 24.2% share of overall daily turnover, followed by general insurance at 13.1% and mutual funds at 10.5%.
However, sectoral returns were overwhelmingly negative, food stocks led the sector-wise decline with a 3.8% drop, while mutual funds and paper sectors both contracted by 2.4%. The textile sector managed a modest 0.7% gain, standing out as the sole gaining sector on the bourse.
On the stock-specific front, Prime Textile led the gainers’ chart with a 9.77% surge, followed by Silva Pharma gaining 8.82%, Union Capital jumping 8.16%, Usmania Glass rising 7.95%, and Agrani Insurance advancing 7.40%.
Conversely, mutual funds dominated the losers’ board, with CAPM IBBL Mutual Fund shedding 8.07%, First Janata Bank Mutual Fund falling 5.71%, Gemini Sea Food dropping 5.50%, IFIC First Mutual Fund losing 5.41%, and market giant BAT Bangladesh sliding 5.37%.
Meanwhile, trading activity was heavily concentrated in Evince Textile, Matin Spinning, Phoenix Finance First Mutual Fund, Envoy Textile, and BRAC Bank, which emerged as the top traded stocks of the day.
Source: The Business Standard
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