Stocks fall as post-Eid trading resumes amid energy concerns

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Stocks fall as post-Eid trading resumes amid energy concerns

B Mirror Report: Stocks fell into negative territory today as trading resumed after the long Eid holidays, with early festive optimism overshadowed by concerns over potential energy shortages and inflation risks linked to the Middle East crisis.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) dropped by 69 points to close at 5,285, down from 5,354 in the previous session.

The market opened on a weak note amid broad-based selling pressure. Although indices attempted a partial recovery during mid-session, the momentum was not strong enough to turn the market positive by the end of trading.

However, turnover saw a modest increase, rising by 7 percent to Tk 4.9 billion from Tk 4.6 billion in the previous session.

In terms of sectoral performance, the banking sector dominated turnover with 15.5 percent, followed by pharmaceuticals at 12.8 percent and engineering at 11.5 percent.

Most sectors experienced declines, with bank, financial institutions, and food sectors posting notable losses. On the other hand, mutual funds, ceramics, and tannery sectors showed some gains.

Out of 397 traded issues, 120 advanced, 240 declined, and 36 remained unchanged.

Meanwhile, the Chittagong Stock Exchange (CSE) also ended the session in negative territory, reflecting the cautious mood of investors.

 

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