Stocks end lower amid cautious trading

Stocks ended lower on Thursday as risk-averse investors preferred to liquidate their holdings in apprehension of a probable shift in market momentum.

The prime index of the Dhaka Stock Exchange (DSE) declined by 61.66 points to settle at 5,506.78 on the day.

The equity indices of the Dhaka bourse extended the losing streak since cautious investors preferred to liquidate their holdings in apprehension of a probable shift in market momentum as sell pressure continued to mount across the trading floor following a sustained uptrend over consecutive sessions, according to EBL Securities.

The blue-chip index DS30, a group of 30 prominent companies, saw a 15.77-point decrease to 1942.36, while the DSES Index, which represents Shariah-based companies, saw an 11.95-point decrease to 1,207.53 till the end.

The market pulse shifted to an intense downbeat vibe after the first hour of today’s session, with the majority of scrips sliding into red territory as cautious investors preferred to reduce their capital market exposure owing to concerns regarding the market outlook, EBL Securities added.

Turnover, a crucial indicator of the market, stood at Tk 6.64 billion, up 31.32 per cent from the previous trading day.

The majority of the stocks saw a price decline, as out of the 397 issues traded, 36 closed higher, 343 ended lower, and 18 remained unchanged on the DSE trading floor.

Sea Pearl Beach Resort & Spa Limited was the most-traded stock with shares worth Tk 245.10 million changing hands, followed by Salvo Chemical Industry Limited, Orion Infusion Ltd, Taufika Foods and Lovello Ice-cream PLC and Alif Industries Limited.

The Chittagong Stock Exchange (CSE) also ended lower with its All Share Price Index (CASPI) losing 128.06 points to settle at 15,758 and the Selective Categories Index (CSCX) losing 76.36 points to settle at 9,485.

The port city bourse traded 4.08 million shares and mutual fund units with a turnover volume of Tk 90.18 million.

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