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Stocks ended lower on Wednesday as risk-averse investors continued trimming their equity exposure amid waning confidence.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), fell by 72 points, to close at 5,169.79 on the day.
The depressed capital market turned back to suffer the outrage of dominant selling pressure after just two sessions of brief positive vibe as risk-averse investors continued trimming their equity exposure amid waning confidence, while the central bank's latest policy rate hike put further strain on the ailing market, according to EBL Securities.
The blue-chip index DS30, a group of 30 prominent companies, dropped 31.56 points to finish at 1,892.77, while the DSES Index, representing Shariah-compliant companies, decreased by 11.38 points to 1,162.65.
The relentless bearish spell remained dominant throughout the session, with the majority of scrips exerting significant price corrections due to the enduring pessimism pervading the trading floor, leaving investors in a state of persistent uncertainty, noted EBL Securities.
Turnover, a crucial indicator of the market, stood at Tk 3.22 billion, down 10.11 per cent from the previous trading day.
The majority of the stocks saw a price decrease today, as out of the 399 issues traded, 52 closed higher, 306 ended lower, and 41 remained unchanged on the DSE trading floor.
Taufika Foods and Lovello Ice-cream PLC emerged as the most-traded stock, with shares worth Tk 179.65 million changing hands, followed by Agni Systems Ltd, Islami Bank Bangladesh, NRB Bank PLC, and Grameenphone.
Meanwhile, the Chittagong Stock Exchange (CSE) also closed lower, with its All Share Price Index (CASPI) dropping by 121 points to 14,502, and the Selective Categories Index (CSCX) losing 68 points to end at 8,831.
The CSE traded 1.31 million shares and mutual fund units, with a turnover of Tk 31.28 million.