DSE plunges as investor confidence wanes; key sectors hit hard

Business Desk :

The Dhaka Stock Exchange (DSE) witnessed a sharp decline over the past week, with key indices tumbling amid investor uncertainty and weak market sentiment.

The Shariah-based DSES index fell by 27 points, while the blue-chip DS-30 index dropped by 9 points. Additionally, the SME index of the DSE declined by 8 points within the same period, reports UNB.

Decline in Trading Volume and Turnover

Throughout the week, the average daily turnover at the DSE stood at Tk 338 crore, a notable decline from the previous week’s Tk 412 crore. Overall, the market saw a decrease in weekly trading volume by Tk 74 crore.

The total turnover for the week reached $139 million, marking a $30 million decline compared to the preceding week.

Stock Performance Overview

Over the week, the share prices of 98 companies increased, while 26 remained unchanged. However, the majority-272 companies-experienced a significant decline.

Among major sectors, the banking sector recorded a price drop of 4.59%, while financial institutions suffered a sharper decline of nearly 18%. Insurance stocks faced a major setback, plunging approximately 35%, while mutual funds fell by over 15%.

The IT sector also struggled, with stock prices tumbling by 32%. Pharmaceuticals declined by 27.74%, whereas the engineering and ceramics sectors posted losses of 40% and 45%, respectively.

Limited Positive Returns
Only four sectors managed to post positive returns during the week, while 19 sectors ended on a negative note. Among the best-performing stocks, Delta Spinners Limited, a Z-category company, recorded the highest five-day return of 39.13%.