The benchmark index of the Dhaka Stock Exchange, DSEX, saw its third consecutive decline on Wednesday, driven by broad-based selloffs as investors took a defensive stance during the ongoing earnings and dividend declaration season for June-closing companies.
The index dropped by 39.1 points, or 0.7%, to close at 5,338 points, down from 5,377 points in the previous session.
The trading day was marked by volatility, with intensified selling pressure and weak buying momentum, said EBL Securities in its post-closing market commentary.
This led to a decrease in investor participation, with market turnover falling by 22.3% to Tk 6.1 billion.
Among the sectors, general insurance led the turnover with a 19.5% contribution to the DSE’s daily total, followed by textile with a 9.7% share and pharmaceuticals at 9.4%.
Despite mixed sectoral performance, life insurance, jute, and paper sectors experienced the most significant declines, losing 3.4%, 2.4%, and 2.2%, respectively.
Out of the 397 issues traded, 102 advanced, 219 declined, and 76 remained unchanged.
Meanwhile, the Chattogram Stock Exchange also saw a bearish session, with both the Selective Categories Index and the All Share Price Index posting losses of 16.1 and 36.3 points, respectively.
