DSEX sinks below 4600-mark in early trading

Dhaka stocks opened lower on Thursday, with the key index of the Dhaka Stock Exchange (DSE) falling below the 4600-mark in early trading. Jittery investors continued to offload shares in an effort to avoid further losses, despite ongoing regulatory measures aimed at stabilising the market.

Ongoing political tensions, coupled with mounting pre-Eid sales, have added further strain to the ailing market. With only four trading days remaining before the 10-day Eid holiday closure, market sentiment remains weak.

Following six consecutive sessions of decline, the DSEX—the benchmark index of the DSE—went down by nearly 20 points or 0.43 per cent, plunging below the 4600-mark to 4,595 after the first hour of trading at 11:00 am, when the report was filed.

Market experts said investors have been suffering from a severe confidence crisis and have found no immediate solution to the prevailing dismal market outlook.

The DS30 index, a group of 30 prominent companies, also shed 2 points to 1,707, while the DSES index, which represents Shariah-based companies, lost 7 points to 1,000 by that time.

Turnover, another important indicator of the market, remained low and amounted to Tk 627 million till then.

Of the issues traded by that time, 131 declined, 137 advanced, and 93 remained unchanged on the DSE trading floor.

Shinepukur Ceramics was the most traded stock, with shares worth Tk 40 million changing hands by that time.

The Chittagong Stock Exchange also witnessed a downturn by then, with its All Shares Price Index (CASPI) losing 45 points to 12,980, while the Selective Categories Index (CSCX) lost 25 points to 7,918.

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