Stocks falls as broad-based selling pressure weighs

The benchmark index of the Dhaka Stock Exchange (DSE) on Tuesday resumed its downward trajectory on Wednesday as broad-based selling pressure dominated the session, with banking stocks exerting notable drag following post record date adjustments.

The DSEX, the key index of the Dhaka bourse, declined by 10.6 points to settle at 5,267 points, compared to 5,278 points in the previous trading session, reports BSS.

Although the market remained relatively stable during mid-session trading, momentum weakened in the final hour as intensified selling pressure eroded earlier gains, ultimately pushing the indices into negative territory at close.

Market turnover also fell by 5.1 percent to Tk 830 crore, down from Tk 880 crore in the previous session, indicating subdued investor participation.

On the sectorial front, pharmaceuticals accounted for the highest share of turnover at 15.9 percent, followed by the banking sector at 13.8 percent and engineering at 12.4 percent.

Most sectors posted mixed performance. Life insurance declined by 1.3 percent, tannery by 1.0 percent, and services by 0.9 percent, while ceramic rose by 2.8 percent, paper by 1.5 percent, and pharmaceuticals by 0.7 percent.

Out of 396 issues traded, 102 advanced, 226 declined, and 68 remained unchanged.
Meanwhile, the port city bourse, Chattogram Stock Exchange (CSE), also ended in negative territory.

The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) dropped by 16.9 points and 31.9 points respectively.