Both the country’s bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) today plunged amid escalating geopolitical tensions in the Middle East, which triggered broad-based selloffs as rattled investors adopted a cautious stance and chose to remain watchful of the market’s trend.
DSEX, the broad index of the Dhaka Stock Exchange (DSE), plunged by 209.0 points or 3.8 per cent to settle at 5,325 points as against 5,534 points in the previous trading session.
Investors were rattled as the market opened under intense selling pressure across the board, which further escalated as the session progressed.
Market participants remained wary of mounting concerns over the potential macroeconomic repercussions of ongoing Middle East tensions, particularly the risks of fuel and power supply disruptions within the country.
Moreover, confusion surrounding market speculation regarding a possible transition in regulatory leadership induced further caution among investors, ultimately leading to a free-fall in the market indices.
Meanwhile, market turnover increased by 13.5 per cent to Tk8.9 billion from Tk7.8 billion in the previous session.
On the sectoral front, Bank (26.6 per cent) issues exerted the highest turnover, followed by Pharma (14.6 per cent) and Textile (8.6 per cent) sectors. All the sectors displayed negative returns, out of which Food (-6.3 per cent), IT (-5.6 per cent) and Life Insurance (-5.6 per cent) exerted the most price erosion on the bourse.
Out of the 397 issues traded, 31 advanced, 344 declined and 22 remained unchanged.
The port city bourse, CSE also witnessed a free fall today. The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) lost 270.0 points and 414.2 points, respectively.
