Large-cap decline drags stock market lower

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Large-cap decline drags stock market lower

B Mirror Report : Both of the country’s bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE), fell today as broad-based selling pressure emerged across the trading board, reflecting profit-taking sentiment after three consecutive sessions of gains.

The DSEX, the broad index of the DSE, lost 32.3 points, settling at 5,234 points, down from 5,267 points in the previous session.

Despite an optimistic start and the indices remaining in positive territory until mid-session, the market pulled back in the late hours as selling pressure gradually increased, with investors realizing recent gains.

Meanwhile, market turnover dropped by 17.5%, from TK 7.1 billion in the previous session to TK 5.9 billion.

On the sectoral front, Banking stocks (18.5%) recorded the highest turnover, followed by Pharmaceuticals (15.4%) and Textiles (11.5%). Sector performance was mixed: Engineering (2.5%), Mutual Funds (1.8%), and Tannery (1.3%) posted the largest gains, while Cement (-2.5%), Life Insurance (-1.7%), and Banking (-1.6%) dragged the market down.

Of the 397 stocks traded, 121 advanced, 219 declined, and 57 remained unchanged.

The Chittagong Stock Exchange (CSE) also ended in the negative zone, with the Selective Categories Index (CSCX) down 22.8 points and the All Share Price Index (CASPI) falling 29.5 points.

 

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