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Stocks ended negative as widespread sell-offs dominated

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Stocks ended negative on Sunday as widespread sell-offs dominated.

The prime index of the Dhaka Stock Exchange (DSE) decreased 18.34 points to settle at 5,183.

Dhaka stocks plunged as widespread sell-offs dominated the session, with investors remaining cautious amid uncertain market momentum driven by ongoing political tensions, according to EBL Securities.

The blue-chip index DS30, comprising 30 leading companies, increased by 8.35 points to 1,896.23, while the DSES Index, representing Shariah-compliant companies, increased by 0.75 points to 1,158.77 by the close.

Turnover, a crucial indicator of the market, stood at Tk 4.21 billion, down 15.26 per cent from the previous trading day.

Market sentiment remained subdued, pushing most stocks into the red as wary investors opted to stay on the sidelines due to concerns over the market outlook according to EBL securities.

The majority of the stocks saw a price decrease, as out of the 398 issues traded, 83 closed higher, 253 ended lower, and 62 remained unchanged on the DSE trading floor.

Sector-wise, Pharmaceuticals 20.4 per cent led in turnover followed by Banks 12.5 per cent and Engineering 10.0% per cent.
Most sectors posted lackluster returns, with Paper -2.3% per cent, Jute -1.6 per cent, and Financial Institutions -1.4 per cent experiencing the steepest declines, while Cement 1.0 per cent, Pharmaceuticals 0.4 per cent, and Travel 0.2 per cent saw slight gains.

Beximco Pharmaceuticals Station was the most-traded stock with shares worth Tk 207.03 million changing hands, followed by Shinepukur Ceramics, Square Pharmaceuticals, Bangladesh Shipping  and KDS Accessories.

The Chittagong Stock Exchange (CSE) ended down with its All Share Price Index (CASPI) decreasing 38.16 points to settle at 14521 and the Selective Categories Index (CSCX) decreasing 17.93 points to settle at 8833.

The port city bourse traded 3.19 million shares and mutual fund units with a turnover volume of Tk 99.92 million.

farhan.fardaus@gmail.com

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