Week begins with steep index fall at both bourses

Bangladesh’s stock market opened the week on a bearish note on Sunday, with both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) recording sharp falls in their key indices as share prices declined for most listed companies.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), fell 38.6 points to close at 5,822, down from 5,861 in the previous trading session.

The market came under persistent selling pressure from the opening bell as broad-based profit-taking, which began in the previous session, continued. 

At the same time, investors shifted their focus towards small-cap and momentum-driven stocks.
Market turnover also declined significantly, falling 16 percent to Tk 960 crore from Tk 1150 crore in the previous session, indicating weaker trading activity.

Among the sectors, Textile stocks dominated the day’s turnover, accounting for 21.7 percent of the total, followed by General Insurance with 16.1 percent and Engineering with 9.7 percent.

Most sectors ended the session in negative territory. Mutual Fund stocks recorded the highest correction, declining 3.4 percent, followed by Financial Institutions at 1.9 percent and IT at 1.7 percent.
However, a few sectors bucked the downward trend. Paper stocks posted the highest gain of 1.0 percent, while Miscellaneous and Jute sectors advanced 0.4 percent and 0.2 percent, respectively.