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DSEX drops 1.28% amid energy concerns

DSEX drops 1.28% amid energy concerns
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The Dhaka Stock Exchange (DSE) slipped as trading resumed after the Eid holidays, with investor optimism dampened by concerns over potential energy shortages and inflationary pressures stemming from the Middle East crisis.

The DSEX, the benchmark broad index of the DSE, fell by 69.0 points or 1.28 per cent to settle at 5,285 points from 5,354 points in the previous session.

The market opened in negative territory as broad-based selling weighed on the indices.

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Although the index attempted to recover losses in mid-session, the momentum was insufficient to push it into positive territory by the close.

Market turnover increased by 7.0 per cent to Tk4.9 billion from Tk4.6 billion in the previous session.

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On the sectoral front, Bank stocks accounted for the highest share of turnover at 15.5 per cent, followed by Pharma at 12.8 per cent and Engineering at 11.5 per cent.

Most sectors recorded negative returns, with Bank (-2.5 per cent), Financial Institution (-1.8 per cent) and Food (-1.2 per cent) leading the corrections.

Some sectors posted gains, including Mutual Fund (6.5 per cent), Ceramic (1.6 per cent) and Tannery (0.6 per cent).

Of the 397 issues traded, 120 advanced, 240 declined and 36 remained unchanged.

Chattogram Stock Exchange (CSE) also closed with mixed outcomes, as the Selective Categories Index (CSCX) and All Share Price Index (CASPI) rose by 47.5 points and 75.8 points, respectively, reflecting selective buying despite broad bearish sentiment.

Analysts said rising energy costs and inflationary risks are weighing on investor sentiment, limiting risk appetite even amid post-Eid liquidity.

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