Bangladesh
2 months ago

Stocks end lower as investors remain on sidelines

Published :

Updated :

Stocks ended lower on Tuesday as many investors remained on the sidelines.

The DSE's prime index decreased by 17.17 points, closing at 4,935.62.

The struggling capital market witnessed another volatile session amid a lack of a strong catalyst to revive investor confidence. Many investors remained on the sidelines, closely observing the market's momentum during the ongoing earnings disclosures of listed companies, according to EBL Securities.

The blue-chip index DS30, comprising 30 leading companies, decreased by 6.60 points to 1,824.22, while the DSES Index, representing Shariah-compliant companies, decreased by 2.93 points to 1,093.95 by the close.

Market volatility continued throughout the day as sellers maintained control amid ongoing uncertainty over the market outlook.

However, favourable earnings reports from select companies encouraged some investors to reposition for potential short-term gains, according to EBL Securities.

Turnover, a crucial indicator of the market, stood at Tk 2.91 billion, down 35.9 per cent from the previous trading day.

The majority of the stocks saw a price decrease, as out of the 397 issues traded, 136 closed higher, 211 ended lower, and 50 remained unchanged on the DSE trading floor.

BRAC Bank was the most-traded stock with shares worth Tk 263.77 million changing hands, followed by Beach Hatchery, Taufika Foods and Lovello Ice-cream, Alif Industries and Bangladesh Shipping.

The Chittagong Stock Exchange (CSE) ended down with its All Share Price Index (CASPI) decreasing 30.68 points to settle at 13815 and the Selective Categories Index (CSCX) decreasing 21.79 points to settle at 8427.

The port city bourse traded 4.26 million shares and mutual fund units with a turnover volume of Tk 109.92 million.

farhan.fardaus@gmail.com

Share this news