Large-cap stocks drag DSE down

Falling prices of large-cap stocks dragged the Dhaka Stock Exchange (DSE) down on Monday, as selling pressure persisted amid ongoing corporate earnings and dividend declarations, while rising global energy prices following renewed geopolitical tensions in the Middle East heightened concerns over corporate profitability.

The DSEX, the benchmark index of the DSE, fell 33.0 points to settle at 5,400 points, down from 5,433 points in the previous session, according to report BSS.

The market opened on a negative note as selling pressure dominated from the outset. Despite a brief attempt to recover from the initial decline, the market remained under sustained downward pressure throughout the session, with most traded securities closing lower.

Meanwhile, market turnover declined by 4.7 percent to Tk 410 crore from Tk 430 crore in the previous session, indicating subdued investor participation.

Bank stocks accounted for the highest share of turnover at 20.5 percent, followed by textile stocks at 19.4 percent and pharmaceutical stocks at 11.8 percent.

Sectoral performance remained largely negative. Ceramic stocks recorded the highest decline of 2.3 percent, followed by paper stocks at 1.8 percent and general insurance stocks at 1.6 percent. In contrast, services and jute stocks each gained 1.2 percent.

Of the 397 issues traded on the DSE, 73 advanced, 248 declined and 74 remained unchanged.
The Chittagong Stock Exchange (CSE) also closed in negative territory. Its Selective Categories’ Index (CSCX) fell by 18.8 points, while the All Share Price Index (CASPI) declined by 22.8 points.