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Stocks closed lower on Wednesday as investors continued to secure quick profits.
The easing of adversities on the macroeconomic front, along with the central bank’s decision to keep policy rates unchanged at 10 per cent for the second half of the current fiscal year, boosted investor confidence to some extent.
Besides, declining Treasury yields and bank interest rates spurred bargain hunters to take positions in lucrative shares amid expectations for a reversal from the market’s prolonged bearish sentiment.
Analysts believe the Bangladesh Bank’s (BB) decision to keep its policy rate unchanged amid falling inflation and treasury yields is a positive signal for the equity market outlook.
The prime index of the Dhaka Stock Exchange (DSE) decreased by 10.75 points to settle at 5,192.44.
The blue-chip index DS30, comprising 30 leading companies, decreased by 9.35 points to 1,913.08, while the DSES Index, representing Shariah-compliant companies, decreased by 2.30 points to 1,157.93 by the close.
Turnover, a crucial indicator of the market, stood at Tk 4.27 billion, down 29 per cent from the previous trading day.
The majority of the stocks saw a price decrease, as out of the 398 issues traded, 103 closed higher, 228 ended lower, and 67 remained unchanged on the DSE trading floor.
Midland Bank was the most-traded stock with shares worth Tk 228.47 million changing hands, followed by Taufika Foods and Lovello Ice-cream, Orion Infusion, Grameenphone and Robi Axiata.
The Chittagong Stock Exchange (CSE) also ended down with its All Share Price Index (CASPI) shedding 61.70 points to settle at 14482 and the Selective Categories Index (CSCX) decreasing by 29.98 points to settle at 8787.
The port city bourse traded 2.03 million shares and mutual fund units with a turnover volume of Tk 60.35 million.