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Stocks ended lower on Monday as anxious investors sought to liquidate their positions to prevent further capital losses.
The prime index of the Dhaka Stock Exchange (DSE) decreased by 66.87 points, settling at 4,898.53.
The capital market continues to experience significant sell-pressure, with the index remaining below the 5,000 mark despite intermittent upward movement observed in early-session trading. The recent sustained downward trajectory has raised concerns, prompting the regulatory commission to establish a committee in the interest of investor protection. Despite the regulator’s effort, the market sentiment remains cautious, as the outlook is further dampened by expectations of weaker earnings for the July-September quarter, reducing the possibility of a short-term recovery, according to EBL securities.
The blue-chip index, DS30, which represents 30 prominent companies, saw a decrease of 25.10 points, closing at 1,805.89, while the DSES index, representing Shariah-based companies, fell by 20.27 points to 1,087.46 by the end of the day.
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, according to EBL securities.
Turnover, a crucial indicator of the market, stood at Tk 3.57 billion, up 17.6 per cent from the previous trading day.
The majority of the stocks saw a price decrease, as out of the 397 issues traded, 105 closed higher, 246 ended lower, and 46 remained unchanged on the DSE trading floor.
Standard Bank PLC was the most-traded stock with shares worth Tk 146.01 million changing hands, followed by National Polymer Industries PLC, Taufika Foods and Lovello Ice-cream PLC, Islami Bank Bangladesh and Far East Knitting & Dyeing Industries Limited.
The Chittagong Stock Exchange (CSE) also closed lower, with its All Share Price Index (CASPI) decreasing by 185 points to settle at 13,821, and the Selective Categories Index (CSCX) losing 119 points to settle at 8,406.
The port city bourse traded 1.57 million shares and mutual fund units with a turnover volume of Tk 33 million.