Stocks end lower as risk-averse investors continue to sell

Stocks closed lower on Sunday as risk-averse investors continued their sell-offs. 

The prime index of the Dhaka Stock Exchange (DSE) decreased by 49.34 points to settle at 5,679. 

The country’s capital bourse started the week on a gloomy note, marking five consecutive sessions of decline as sellers regained control after a short-lived positive momentum in the morning, induced by waning market confidence due to the prevailing volatility, said EBL Securities. 

The blue-chip index DS30, a group of 30 prominent companies, saw a 14.16-point decrease to 2,100, while the DSES Index, which represents Shariah-based companies, saw a 7.43-point decrease to 1,221.37 by the end of the session.

The market saw mixed reactions as the session began with upbeat momentum, but the indices retraced to negative territory as risk-averse investors’ continued cautious selling eroded the early session optimism, EBL Securities added. 

Turnover, a crucial indicator of the market, stood at Tk 6.79 billion, up 0.60 per cent from the previous trading day. 

The majority of the stocks saw a price decrease, as out of the 397 issues traded, 64 closed higher, 289 ended lower, and 44 remained unchanged on the DSE trading floor. 

Linde Bangladesh Limited was the most-traded stock with shares worth Tk 321.33 million changing hands, followed by BRAC Bank PLC, Olympic Industries Ltd, The IBN SINA Pharmaceutical, and The ACME Laboratories.

The Chittagong Stock Exchange (CSE) also ended lower with its All Share Price Index (CASPI) losing 141 points to settle at 16,238, and the Selective Categories Index (CSCX) losing 88 points to settle at 9,787. 

The port city bourse traded 2.54 million shares and mutual fund units with a turnover volume of Tk 74.33 million.