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The Dhaka Stock Exchange (DSE) has seen a slight downturn on the first day of Ramadan, snapping a six-day winning streak.
The DSEX, the benchmark index of the country's premier bourse, shed 10 points on Sunday to close at 5,236.84 points, according to bdnews24.com.
In the six previous trading sessions, the index had gained a cumulative 55 points. The last time the index saw a decline was on Feb 19, when it dropped by 11 points.
Investors consider the decrease in trading volume and the fluctuations in the index during Ramadan as normal. Due to the shortened trading hours, the stock market tends to be less active during Ramadan.
On the first day of Ramadan in 2024, the DSEX lost 52 points, closing at 6,006 points.
Due to reduced trading hours, the total turnover in the market stood on Sunday at Tk 4.22 billion, down from Tk 4.88 billion the previous day.
The DSEX saw an initial uptick during the first hour of trading. However, as selling pressure increased, the market could not sustain its gains and ended the day with a 10-point loss after undergoing some correction.
On Sunday, the broader market saw more dips than gains in stock value. According to DSE data, out of the 395 stocks traded, 144 saw an increase in prices, 184 declined and 67 closed flat.
The textile sector dominated trading, accounting for 13.59 percent of the total turnover, or Tk 547.6 million. It was followed by the pharmaceuticals and chemicals sectors, along with the engineering sector.
Based on closing prices, the top gainers were HR Textiles, BD Autocars and Style Crafts, while Shinepukur Ceramics, Khulna Printing and Packaging and ADN Telecom were the top losers.
According to UNB, similar to Dhaka, the Chittagong Stock Exchange (CSE) also witnessed a fall in indices. The CSE’s overall index declined by 25 points on Sunday.
Among 204 participating companies, share prices increased by 76, fell by 98, and remained unchanged for 30.
Throughout the session, a total of Tk 51.6 million worth of shares and units were traded at the CSE.
Aziz Pipes Limited emerged as the top gainer on the CSE with a 10% price increase, whereas Shahjibazar Power Company Limited saw the highest decline, losing 9.86% in value.