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Stocks ended lower on Tuesday as bears tightened their grip for the third consecutive session, with investors remaining cautious due to market uncertainties.
The prime index of the Dhaka Stock Exchange (DSE) dropped by 57.40 points, settling at 5,242.66.
The downbeat vibe in the country’s capital market continues as bears firmed their control for three consecutive sessions since investors are cautious of the market’s trend due to uncertainties over the ongoing economic and political tensions, according to EBL Securities.
The blue-chip index DS30, a group of 30 prominent companies, saw a 20.18-point decrease to 1942.90, while the DSES Index, which represents Shariah-based companies, saw a 17.50-point decrease to 1,153.93 till the end.
Turnover, a crucial indicator of the market, stood at Tk 5.15 billion, down 6.6 per cent from the previous trading day.
The bourses remained sell-dominant throughout the session as investment appetite remains subdued amid the market’s waning momentum, while the recently downgraded sovereign ratings of the country on Moody’s scale have further triggered the prevailing investor pessimism. However, cautious investors are monitoring the market’s momentum to identify sector-specific stocks with the potential for recovery following the earnings declaration season, according to EBL securities.
The majority of the stocks saw a price decrease, as out of the 388 issues traded, 76 closed higher, 267 ended lower, and 45 remained unchanged on the DSE trading floor.
Fine Foods Limited was the most-traded stock with shares worth Tk 215.72 million changing hands, followed by Sonali Aansh Industries Limited, Jamuna Bank PLC., Islami Bank Bangladesh PLC., and Bangladesh Shipping Corporation.
The Chittagong Stock Exchange (CSE) also ended lower with its All Share Price Index (CASPI) decreasing by 126 points to settle at 14691 and the Selective Categories Index (CSCX) losing 72 points to settle at 8947.
The port city bourse traded 2.42 million shares and mutual fund units with a turnover volume of Tk 111.08 million.