Stocks extend downtrend amid broad-based selling pressure

Stocks on Tuesday continued its downward trajectory as persistent selling pressure and post-record date adjustments in select banking stocks weighed on overall investor sentiment.

DSEX, the benchmark index of the DSE, declined by 23.1 points to close at 5,202, compared to 5,226 in the previous session, reports BSS.

Although the market showed some resilience during mid-session trading, sustained sell-offs across most scrips pushed the index firmly into negative territory by the close.

Turnover was led by the General Insurance sector, which accounted for 18.9per cent of total activity, followed by Food (0.6per cent) and Ceramic (0.4per cent) sectors, reports from BSS.

Sector performance remained largely negative, with Financial Institutions (-1.8per cent), Services (-1.7per cent), and Mutual Fund (-1.7per cent) emerging as the weakest performers. In contrast, Jute (1.0per cent), Food (0.6per cent), and Ceramic (0.4per cent) posted marginal gains.

Out of 396 traded issues, 80 advanced, 253 declined, and 63 remained unchanged, reflecting broad market weakness.

Meanwhile, the port city bourse, Chittagong Stock Exchange, also ended the session in negative territory.

The Selective Categories’ Index (CSCX) fell by 25.2 points, while the All Share Price Index (CASPI) dropped by 51.9 points.