DSE key index drops below 6,000 points, lowest in 34 months

The main index of the Dhaka Stock Exchange has fallen below 6,000 points on the second day of Ramadan after a significant drop on the first day of fasting.

At the end of trading on Wednesday, the DSEX stood at 5,974 points, the lowest level in 33 months and 19 days.

The last time the DSEX was at that level came on May 25, 2021 when it stood at 5,884 points.

On Tuesday, the first day of fasting, the DSEX lost 51 points, following share transactions amounting to Tk 5.63 billion.

Trading began at 9am on Wednesday with the index standing at 6,006 points. After 13 minutes, the DSEX dropped six points and dipped below 6,000.

The index continued to drop until 11:30am, reaching 5,950. In between, the index tried to rally twice, but it did not sustain the rise.

But a little after 11:30am, it started to turn around and by noon, the DSEX had recovered by quite a margin. It even crossed 6,000 points around 12:30pm.

But, after that, it declined again slowly, eventually hitting 5,974 points at the end of trading.

The DSE closed with a turnover of Tk 4.83 billion on Wednesday. Of the stocks traded, the prices of 222 fell, 112 rose, and 60 remained unchanged.

According to EBL securities, The downbeat vibe in the country’s capital market extends further, with the benchmark index of the capital bourse falling to a nearly 3-year low, owing to persistent selling pressure as risk-averse investors continue to trim their exposure to capital market investments due to dwindling confidence across the trading floor.

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