Stocks extend losses as margin rule concerns

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Stocks extend losses as margin rule concerns

Stocks began the week on a weaker note as profit-taking and broad-based selling pressure pushed share prices lower, while investor concerns over the proposed amendment to margin rules dampened market sentiment.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) dropped 44.6 points to close at 5,856, down from 5,900 in the previous session.

Market turnover also declined, falling 4.3 percent to Tk 10.7 billion from Tk 11.2 billion in the previous trading session.

The pharmaceutical sector led the turnover chart, accounting for 14.9 percent of total transactions, followed by textiles with 14.7 percent and general insurance with 12.5 percent.

Sector-wise, general insurance suffered the sharpest loss, declining 3.1 percent. The jute sector fell 2.0 percent, while life insurance slipped 1.9 percent. In contrast, mutual funds gained 1.9 percent, ceramics advanced 0.9 percent, and the textile sector edged up 0.3 percent.

Market breadth remained negative, with 242 issues declining, 97 advancing and 57 remaining unchanged out of the 396 securities traded on the DSE.

The Chittagong Stock Exchange (CSE) also ended in the red, with the CSCX index losing 61.3 points and the CASPI index falling 66.2 points.

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