The benchmark DSEX index dropped 32.29 points, or 0.60%, to settle at 5,385.15 points, down from 5,417.44 points in the previous session.
The Dhaka Stock Exchange (DSE) extended its losing streak for a second consecutive session today (1 November), as disappointing corporate earnings and dividend declarations, coupled with persistent economic challenges, continued to dampen investor sentiment.
The benchmark DSEX index dropped 32.29 points, or 0.60%, to settle at 5,385.15 points, down from 5,417.44 points in the previous session.
The blue-chip DS30 index fell 0.88% to 2,068.43 points, while the Shariah-based DSES index declined 0.45% to 1,045.93 points.
Market turnover also declined, falling 14.6% to Tk482.19 crore from Tk564 crore in the previous session, indicating a slowdown in trading activity.
Textile stocks dominated turnover, accounting for 20.5% of the total, followed by General Insurance at 17.3% and Bank stocks at 11.3%, according to EBL Securities.
Of the 387 issues traded on the DSE, 190 declined, 151 advanced and 46 remained unchanged, reflecting a predominantly negative market trend.
According to EBL Securities’ daily market commentary, investor concerns over the market’s near-term outlook intensified amid ongoing corporate earnings disclosures and persistent domestic economic headwinds.
Despite intermittent recovery attempts, selling pressure dominated the session as risk-averse investors continued to reduce their equity exposure. Disappointing earnings and dividend announcements by several large-cap companies further weakened market sentiment.
All major large-cap sectors posted negative returns during the session, according to BRAC EPL Stock Brokerage’s market commentary.
Food and Allied led the losers, declining 2.69%, followed by Bank stocks at 1.27%, Non-Bank Financial Institutions at 1.06%, Engineering at 0.90%, Telecommunications at 0.64%, Pharmaceuticals at 0.26% and Fuel and Power at 0.25%.
EBL Securities’ sector-wise analysis also showed broad-based weakness, with Jute recording the steepest decline of 5.5%, followed by Food at 2.7% and Travel at 1.7%.
However, some sectors bucked the downward trend. Mutual Funds gained 2.9%, General Insurance rose 1.1% and Textiles advanced 0.8%.
Block trades accounted for 4.7% of total market turnover yesterday, according to BRAC EPL Stock Brokerage.
Matin Spinning Mills emerged as the most traded stock, with shares worth Tk17.5 crore changing hands. Its share price gained 9.8% during the session.
Meanwhile, the Chittagong Stock Exchange (CSE) also closed lower. Its Selective Categories’ Index (CSCX) fell 45.9 points, while the All Share Price Index (CASPI) declined 82 points.
Source: The Business Standard
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