Stock market: Major decline in Dhaka and Chattogram; most companies lose value

Although trading began positively on Tuesday, both the Dhaka and Chattogram stock markets ended the day with most company shares losing value.

At the Dhaka Stock Exchange (DSE), the benchmark index DSEX fell by 46 points. The Shariah-based DSES declined by 12 points, while the blue-chip index DS30 dropped by 16 points.

Out of the 398 companies traded on the DSE, prices fell for most. Only 54 companies saw an increase in share price, while 309 declined and 35 remained unchanged.

Share prices declined across all three categories — A, B, and Z. In the A category, which comprises fundamentally strong companies with regular dividend history, 32 out of 220 companies saw price appreciation, while 178 experienced a fall and 10 remained unchanged.

Among the 36 mutual funds traded, prices fell for the majority. Only 2 mutual funds registered gains, 32 declined, and 2 remained unchanged.

In the DSE block market, shares of 22 companies were traded for a total value of Tk 91.4 million. SEML Lecture Equity Management Fund topped the block trades with sales worth Tk 24.4 million.

Alongside the index drop, the daily turnover also declined in the Dhaka market. Total turnover stood at Tk 3.43 billion, down from Tk 3.64 billion in the previous session.

First Bangladesh Fixed Income Fund was the top gainer on the DSE with an 8.11 per cent price increase. On the other hand, Midas Financing suffered the biggest loss, with a price drop of over 16 per cent.

Fall in Chattogram as Well

The Chattogram Stock Exchange (CSE) also experienced a decline, mirroring the trend in Dhaka. The overall index at the CSE dropped by 36 points during the day's trading.

Out of 201 companies traded, 55 gained in price, 113 fell, and 33 remained unchanged.

Total turnover at the CSE stood at Tk 76.7 million, slightly up from the previous session’s Tk 72.9 million.

ICB Second Mutual Fund topped the gainers’ list on the CSE with a 10 per cent rise in price.

Meanwhile, Midas Financing also recorded the highest loss at the CSE, with its share price falling by over 13 per cent, similar to its performance on the DSE.