Stocks extended their shedding lumber for a 2d consecutive session on Monday, as heavy selling stress led to a decline in 72% of the companies traded on the Dhaka Stock Change (DSE).
The DSEX, the mammoth index of the DSE, additionally plunged by 43 options, following a first-rate tumble of 83 options in the earlier session.
The DSE Shariah and DS30 indices additionally led to the crimson, with turnover a chunk of decrease than the earlier session as market participation remained sluggish.
Stocks experienced a unstable session on Monday, and from the guts of the shopping and selling day, selling stress intensified vastly, dragging the indices down despite the market opening on an even set.
By the discontinuance of the session, Islami Bank’s portion designate had increased by 4.69%, boosting the DSEX by 4 options, while Grameenphone dragged the index down by 7 options, primarily based on Amarstock.
With the 43-level decline, the DSEX settled at 5,335 options, while the DSE Shariah index fell by 1.47 options to 1,189, and the DS30 index dropped by 22 options to 1,942.
Turnover stood at Tk366 crore, a minute decrease from Tk368 crore in the earlier session.
Seven companies contributed Tk115 crore to the total turnover, with the head traded companies being Midland Bank, Agni Programs, Islami Bank, BRAC Bank, Lovello, Grameenphone, and Square Pharmaceuticals.
Out of the total traded shares, 53 developed, 288 declined, and 58 remained unchanged.
In its day-to-day market commentary, EBL Securities noted that the downbeat capital market failed to get better from the persistent pessimism dominating the shopping and selling floor, as selling stress persisted to weigh heavily amid subdued sentiment and rising concerns over the market outlook.
“Traders are shying some distance from taking fresh positions in equities, while losses proceed to mount on their already hampered portfolios,” the commentary acknowledged.
“Regardless of the indices showing minute resilience till mid-session as a result of designate appreciation in constructive monetary institution shares, the next selling spree eroded most of the early gains, returning the market to its extended bearish mode,” it added.
On the sectoral front, the banking sector accounted for the very perfect portion of total turnover at 29.1%, adopted by prescribed medications at 14.8% and the IT sector at 11.7%.
Islami Bank topped the checklist of gainers, with a 4.69% enlarge in its portion designate to Tk58 each and every, adopted by Mercantile Insurance with a 4.60% rise to Tk25, and Islamic Finance and Investment, which gained 4.34% to reach Tk14.4.
In the intervening time, Nationwide Tea Company led the losers’ checklist as its portion designate fell by 8.74% to Tk215 each and every, adopted by Bangladesh Submarine Cable, which dropped 7.66% to Tk120.4, and Renwick Jajneswar & Company (BD), down 7.20% to Tk673.1.
The port metropolis bourse, the Chittagong Stock Change (CSE), additionally led to the crimson, with the CSCX and All Allotment Impress Index (CASPI) falling by 88.1 and 154.5 options, respectively.
