Stocks start week with fall

Stocks on Sunday started the week with a fall as investor caution over the market’s momentum has been further reinstated by the recent adjustment in domestic fuel prices amid persistent uncertainties surrounding the ceasefire talks in the Middle East conflict.

DSEX, the broad index of the Dhaka Stock Exchange (DSE), declined by 9.3 points or 0.02 per cent to settle at 5,248 points, as against 5,257 points in the previous trading session, reports BSS.

Although the indices held steady through mid-session, the momentum fell short as mounting selling pressure in major large-cap scrips eroded early gains, ultimately pulling the market into negative territory by the session’s close.

Nevertheless, market turnover remained resilient, while slightly increasing by 1.6 per cent to Taka 820 billion from Taka 810 billion in the previous session.

On the sectoral front, engineering (18.9per cent) accounted for the highest share of turnover, followed by Textile (13.6per cent) and General Insurance (13.3per cent) sectors.

Sectors mostly displayed dismal returns, out of which Paper (-1.7per cent ), Travel (-1.5per cent) and Jute (-1.1per cent ) displayed the most corrections on the bourse yesterday , while General Insurance (2.2per cent ), Textile (0.4per cent ) and Tannery (0.1per cent ) exhibited positive returns.

Of the 397 issues traded, 123 advanced, 208 declined, and 65 remained unchanged.
The port city bourse, CSE, also settled on a negative territory.

The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) declined by 5.4 points and 10.0 points, respectively.