Energy concerns and rising tensions in the Middle East extended the Dhaka Stock Exchange’s (DSE) losing streak on Sunday as investors preferred selling off shares amid growing uncertainty.
The benchmark DSEX index fell 96.6 points, or 1.8 per cent, to close at 5,419, down from 5,515 in the previous session, as selling pressure gripped the market from the start of the week’s first trading session.
Investors, already facing losses in their portfolios, rushed to sell holdings to limit further losses, triggering widespread price corrections across the bourse.
The market failed to recover during the session as concerns over the nationwide gas and electricity crisis, along with the escalating conflict in the Middle East, weighed on investor sentiment, wrote EBL Securities in its post closing market commentary.
Of the 395 securities traded, 336 declined, while 27 advanced and 32 remained unchanged.
Market capitalisation fell by Tk677 crore, or 1 per cent, to Tk6.86 lakh crore, reflecting a broad decline in share values.
Despite the sharp fall in prices, trading activity increased. Turnover rose 4.9 per cent to Tk571.3 crore from Tk544.4 crore in the previous session.
The number of trades increased 16.1 per cent to 1.82 lakh, while trading volume rose 8.6 per cent to 23.6 crore shares.
All sectors ended lower, with travel stocks suffering the steepest correction of 5.4 per cent, followed by ceramics at 4.1 per cent and jute at 3.7 per cent.
Textiles dominated turnover, accounting for 25.9 per cent of total transactions, followed by general insurance with 15 per cent and banks with 11.5 per cent. Mutual funds and pharmaceuticals accounted for 10.4 per cent and 10.3 per cent, respectively.
Among the gainers, Prime Finance First Mutual Fund rose 9.95 per cent, EBL First Mutual Fund gained 6.98 per cent, Reliance Insurance advanced 5.6 per cent, Saiham Textile Mills increased 5.3 per cent, Bangladesh National Insurance Company rose 3 per cent and Meghna Cement Mills gained 2.1 per cent.
On the losing side, Orion Infusion fell 9.9 per cent, Premier Leasing & Finance declined 9.5 per cent, while Aamra Technologies and Lub-rref (Bangladesh) dropped 8.8 per cent each.
The broader market indicators also reflected the weakness. The DS30 index, which tracks large-cap companies, declined 23.3 points, or 1.1 per cent, to 2,072.
The SME-focused DSMEX index fell 18.1 points, or 1.7 per cent, to 1,032.
