Dhaka stocks extended their losing streak for a second consecutive session on Tuesday as persistent concerns over the market’s outlook, following the recent domestic fuel price hike and ongoing geopolitical tensions in the Gulf region, overshadowed bargain-hunting attempts.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell 10.2 points, or 0.2 per cent, to settle at 5,540, compared with 5,550 in the previous session.
The market remained volatile throughout the session, with selling pressure gaining strength after mid-session as concerns over possible inflationary pressures and their impact on corporate earnings prompted investors to reduce their exposure to equities.
Despite the decline in the broad index, market turnover edged up 0.4 per cent to Tk791.5 crore, from Tk788.7 crore in the previous session.
The DS30, which tracks large-cap stocks, was almost unchanged, gaining 0.3 point to 2,106. The DSE’s SME index, DSMEX, declined 3.8 points, or 0.4 per cent, to 1,019.
Of the 395 issues traded, 101 advanced, 227 declined and 67 remained unchanged, indicating broad-based selling pressure.
Textiles generated the highest turnover, accounting for 18.3 per cent of the market’s total turnover, followed by general insurance at 14.6 per cent and pharmaceuticals and chemicals at 13.9 per cent.
In monetary terms, textile stocks recorded turnover of Tk144.56 crore, while general insurance and pharmaceutical and chemical stocks registered Tk115.76 crore and Tk110.07 crore, respectively.
Among the sectors, services posted the steepest decline, falling 1.1 per cent, followed by life insurance at 1.0 per cent and travel at 0.9 per cent. On the other hand, mutual funds gained 1.1 per cent, while ceramics and engineering advanced 0.5 per cent and 0.3 per cent, respectively.
Among the most actively traded stocks, Square Pharmaceuticals led turnover with Tk36.96 crore, followed by Dominage Steel Building Systems with Tk34.76 crore and Eastern Bank with Tk 34.14 crore. Saiham Textile Mills, BRAC Bank and Anwar Galvanizing were also among the leading turnover-generating stocks.
Dominage Steel Building Systems was the top gainer, rising 9.98 per cent, while First Finance was the biggest loser, declining 6.52 per cent.
The market capitalisation of the DSE fell by Tk1,460 crore to Tk6,91,400 crore, while the number of trades declined 8.6 per cent to 201,745. Trading volume also fell 1.7 per cent to 29 crore shares.
