Stocks extend losing streak amid large-cap sell-off

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Stocks extend losing streak amid large-cap sell-off

Bangladesh’s stock market remained under pressure on Monday, with major large-cap shares bearing the brunt of selling as cautious investors continued to reduce their exposure.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) declined 16.2 points, or around 0.29 percent, to close at 5,614 points, marking another session of losses.

The market showed some signs of recovery during the session as bargain hunters stepped in at lower prices. However, selling intensified toward the end of trading, eventually weighing on the overall market.

Trading activity also weakened. DSE turnover dropped 7.9 percent to Tk 4.7 billion from Tk 5.2 billion in the previous trading session, suggesting that investors remained hesitant amid prevailing market uncertainty.

Textiles remained the most actively traded sector, generating 32.6 percent of total turnover. Pharmaceuticals accounted for 11.4 percent, while banking stocks contributed 10.7 percent.

Sectoral performance was mixed. Mutual funds led the gainers with a 0.8 percent rise, followed by services at 0.6 percent and ceramics at 0.5 percent.

On the downside, jute stocks recorded the steepest decline, falling 2.4 percent. IT shares lost 1.4 percent, while life insurance stocks declined 0.9 percent.

Market breadth remained negative, with 191 issues declining against 125 advancing, while 79 securities closed unchanged out of 395 traded issues.

The downward trend was also reflected at the Chittagong Stock Exchange (CSE). The CSCX index fell 3.1 points, while the broader CASPI index dropped 21.7 points.

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