Stocks retreat as DSE ends lower amid profit-taking pressure

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Stocks retreat as DSE ends lower amid profit-taking pressure

B Mirror Report: Stocks retreated today after a series of positive sessions, as cautious investors reshuffled their portfolios amid ongoing earnings disclosures and mixed domestic and global signals.

The benchmark index of the Dhaka Stock Exchange (DSE), DSEX, fell by 15.6 points to close at 5,301, compared to 5,316 in the previous session.

Market analysts said the trading session opened on a firm note and remained positive until mid-day, but failed to sustain momentum in the final hour due to widespread selling pressure, which pushed the indices into negative territory at the close.

Despite the decline in the index, overall turnover remained relatively steady, though it slipped by 2.7 percent to Tk 9.5 billion from Tk 9.8 billion in the previous session.

On the sectoral front, General Insurance led turnover with a 16.1 percent share, followed by the Bank sector at 13.0 percent and Textile at 11.6 percent.

Most sectors ended in the red, with Ceramic, Paper, and Textile posting declines of 2.0 percent, 1.3 percent, and 1.3 percent respectively. In contrast, the General Insurance sector was the only gainer, rising 2.9 percent during the session.

Out of 397 traded issues, 102 advanced, 220 declined, and 74 remained unchanged, indicating a broadly negative market sentiment.

Meanwhile, the Chittagong Stock Exchange (CSE) also closed lower. The Selective Categories Index (CSCX) dropped by 18.9 points, while the All Share Price Index (CASPI) fell by 35.8 points at the end of trading.

 

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