Business Report :
Stocks ended lower on Monday as prevailing volatility in the market prompted risk-averse investors to liquidate their holdings.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), decreased by 49.77 points to settle at 5,629.5.
The DSE’s prime index lost 200 points, or 3.4 per cent, over the last six working days.
The benchmark index of the Dhaka bourse continued its losing streak for the sixth consecutive session as the ongoing market volatility led risk-averse investors to liquidate their holdings and remain cautious about the market’s waning momentum, EBL Securities said.
The blue-chip index DS30, which consists of 30 prominent companies, saw a 7.67-point decrease to 2,092, while the DSES Index, representing Shariah-based companies, saw a 6.27-point decrease to 1,215 by the end of the session.
Market volatility persisted throughout the session as sellers maintained their dominance, while opportunistic investors preferred to observe the market trend and hold cash in search of lucrative investment opportunities following the corrections, EBL Securities added.
Turnover, a crucial indicator of market activity, stood at Tk 6.21 billion, down 8.50 per cent from the previous trading day.
The majority of stocks saw a price decrease, with 67 issues closing higher, 307 ending lower, and 25 remaining unchanged out of the 399 issues traded on the DSE trading floor.
Linde Bangladesh Limited was the most-traded stock, with shares worth Tk 323.28 million changing hands, followed by Olympic Industries Ltd, MJL Bangladesh PLC, Square Pharmaceuticals, and BRAC Bank.
The Chittagong Stock Exchange (CSE) also ended lower, with its All Share Price Index (CASPI) losing 173 points to settle at 16,065, and the Selective Categories Index (CSCX) losing 103 points to settle at 9,684.
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