The stock market continued its downward slide for a third straight session on Wednesday, as profit-taking weighed heavily on investor sentiment and pushed key indices deeper into the red.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped by 63.08 points, or 1.15 percent, to close at 5,408.07.
The DSES, which tracks Shariah-compliant companies, fell 13.50 points, or 1.14 percent, to end at 1,170.43, while the DS30, comprising blue-chip stocks, lost 27.82 points, or 1.31 percent, to settle at 2,097.70.
According to a market update from EBL Securities, the day began with a brief bullish impulse, but selling pressure quickly erased early gains. Banking and select large-cap stocks led the decline as investors locked in profits after the recent rally.
Although some bargain hunting appeared late in the session, it failed to sustain a recovery amid continued selling pressure.
Turnover, a key indicator of investor activity, dropped significantly to Tk 706.41 crore from Tk 889.96 crore the previous day.
Banking stocks accounted for the highest share of the day’s turnover at 17.6 percent, followed by pharmaceuticals at 14.8 percent and textiles at 11.3 percent.
Most sectors ended in negative territory, with cement falling by 2.7 percent, ceramics by 2.2 percent, and fuel & power by 1.9 percent—recording the day’s steepest losses.
Out of 398 issues traded, 268 declined, 79 advanced, and 51 remained unchanged.
Rahim Textile Mills PLC topped the gainers’ list, rising by 9.98 percent. Other notable gainers included Hakkani Pulp & Paper Mills PLC (6.57 percent), Pragati Life Insurance PLC (6.10 percent), Stylecraft Ltd (5.32 percent), and JMI Syringes & Medical Devices Ltd (4.74 percent).
On the other hand, the biggest losers were ICB AMCL Third NRB Mutual Fund, which dropped 7.84 percent, followed by ICB AMCL First Agrani Bank Mutual Fund (7.59 percent), Tung Hai Knitting and Dyeing Ltd (6.90 percent), First Finance Ltd (6.25 percent), and Karnaphuli Insurance Co. Ltd (6.14 percent).
City Bank Ltd led in turnover with over 8.74 million shares traded, reflecting sustained investor interest despite the overall market weakness.
The bearish sentiment was reflected on the Chittagong Stock Exchange (CSE), where the CASPI, the all-share price index, dropped by 162.2 points.