Dhaka stocks suffer second sharpest fall in six weeks

After a brief spell of post-Eid optimism, Bangladesh’s premier bourse took a sharp turn on Sunday, registering its second-steepest drop in six weeks.

Investor caution and liquidity concerns weighed heavily, dragging the benchmark DSEX index down by more than 76 points.

The DSEX closed the day at 4,677.60, down from 4,754.41 in the previous session — a stark reminder of the volatility that’s gripped the market since early May.

The last significant drop occurred on May 7, when the index nosedived over 149 points.

Although it bounced back by 100 points the following day, momentum fizzled out, with daily movements remaining largely subdued in the weeks since, according to bdnews24.com.

Sunday’s session opened on a weak note and, despite a mid-day attempt at recovery, closed firmly in the red.

Turnover, a key indicator of investor activity, also dipped in a sign of lingering caution.

Total turnover on the Dhaka Stock Exchange (DSE) dropped to Tk 2.72 billion, down from Tk 3.05 billion in the previous session. Of this, Tk 238.8 million came from block trades.

Out of 397 securities traded, a staggering 365 ended in the red, while only 16 managed gains. Another 16 remained unchanged, underscoring the breadth of the day’s sell-off.

Sector-wise, food and allied companies led the turnover chart with Tk 458 million, accounting for 18.21 per cent of the day’s total. Banks followed with Tk 375.3 million or 14.93 per cent, while pharmaceuticals and chemicals contributed Tk 303.3 million (12 per cent).

Among the day’s few winners were Stylecraft, Rahima Food, and Standard Bank, while Prime Finance, Fareast Finance, and Padma Life Insurance saw the steepest losses.