DSE closes nearly flat as profit-taking limits recovery

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DSE closes nearly flat as profit-taking limits recovery

The Dhaka Stock Exchange (DSE) ended Thursday’s session almost unchanged as cautious investors opted to book profits, preventing the market from extending its recent recovery.

The benchmark DSEX index rose 1.7 points, or 0.03 percent, to finish at 5,662, compared with 5,660 in the previous session.

The market began the day with positive momentum, keeping the indices in positive territory until around mid-session. The trend, however, weakened in the latter part of trading as investors increased selling to lock in gains made during the recent upward movement.

Analysts and market participants remained cautious about the sustainability of the recovery, which contributed to limited buying interest and kept the overall market direction subdued.

Turnover on the DSE also declined. Total transactions stood at Tk 720 crore, down 1.4 percent from Tk 730 crore recorded in the previous session, reflecting weaker participation.

The textile sector remained the most actively traded, generating 33 percent of the day’s total turnover. General insurance followed with a 16.7 percent share, while pharmaceuticals accounted for 12.4 percent.

Among the sectors, cement delivered the strongest performance, gaining 1.8 percent. Life insurance advanced 1.7 percent, while IT stocks rose 1 percent.

The textile sector, however, came under significant selling pressure and declined 2.4 percent, marking the biggest sectoral correction of the session. Mutual funds and services also lost 1.4 percent and 1.1 percent, respectively.

Despite the slight increase in the DSEX, market breadth remained distinctly weak. Of the 395 issues traded, 125 advanced, 225 declined and 45 remained unchanged, indicating that selling pressure was widespread across the market.

The Chittagong Stock Exchange (CSE) also finished lower. The CSCX fell 4.7 points, while the CASPI declined 14 points.

 

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