Stocks extend losses as turnover slumps on cautious trading

The benchmark DSEX index extended its losing streak for a second consecutive session on Sunday, dragged down by cautious trading and a notable decline in turnover, reflecting subdued investor sentiment and risk aversion.

The DSEX shed 0.78 per cent to close at 5,086.86 points, marking continued weakness in the market.

Turnover on the Dhaka Stock Exchange (DSE) fell to Tk 3.94 billion, down from Tk 4.62 billion in the previous session, indicating lower investor participation.

“Market sentiment remains fragile as investors are reluctant to take fresh positions ahead of corporate earnings announcements and policy signals from the central bank,” said a senior trader at a leading brokerage firm in Dhaka, seeking anonymity.

Banking and pharmaceutical stocks led the decline, while selective buying in engineering issues provided some support.

On the DSE, decliners outnumbered gainers 260 to 81, with 55 issues remaining unchanged.

Among other indices, the blue-chip DS30 fell 0.88 per cent, while the Shariah-compliant DSES lost 1.02 per cent.

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