DSE sheds 107 points as turnover falls

The country’s premier bourse has extended its downward slide on the first trading day of the week, as persistent selling pressure dragged both the index and turnover lower.

On Sunday, the benchmark DSEX index dropped 107 points to close at 5,112, down from 5,219 in the previous session on Thursday.

The market has remained volatile since Eid, with the index falling 68 points on Mar 24, the first trading day after the holiday, before rebounding by 94 points on Apr 1 to reach 5,272.

Trading on Sunday began under heavy selling pressure, pushing the index down 62 points within the first hour.

Although brief buying added 16 points, renewed selling within half an hour erased the gains, leaving the market unable to recover.

The session ended early -- at 2:00 pm instead of 2:30 pm -- as part of government energy-saving measures.

Turnover also declined sharply to Tk 5.12 billion, compared with Tk 6.26 billion in the previous session.

Shares and units of 390 companies were traded, of which 25 advanced, 354 declined, and 11 remained unchanged.

Market analysts linked the decline to global tensions, particularly the Iran conflict, which has raised fears over fuel supply disruptions.

 “Investors are becoming anxious about energy security,” said Al-Amin, a professor of accounting at Dhaka University.

 “Some are selling shares, increasing pressure on the market.”

Sector-wise, pharmaceuticals and chemicals led turnover, followed by engineering and textiles.

Rangpur Foundry, Daffodil Computers, and Bangladesh National Insurance recorded the highest gains, while New Line Clothings, Family Tex, and GSP Finance suffered the steepest losses.