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Stocks witnessed a downturn on Wednesday as the new leadership within the stock market regulator is yet to settle down.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), fell by 108.40 points to close the day at 5,606.96.
Dhaka stocks tumbled as investors went for heavy sell-offs right from the start of today’s session owing to uncertain market momentum as the new leadership within the stock market regulator is yet to settle down, while the ongoing board reformation of particular companies and measures against certain influential figures triggered fresh concerns across the trading floor, EBL Securities said.
The blue-chip index DS30, a group of 30 prominent companies, saw a 45.64-point decrease to settle at 2147.63, while the DSES Index, which represents Shariah-based companies, fell by 28.29 points to 1,201.41.
Cautious investors opted to trim their exposure to capital market investments due to dwindling confidence amidst current market volatility, causing the broad index to extend its losing streak for five consecutive sessions, added EBL Securities.
Turnover, a crucial indicator of the market, stood at Tk 5.37 billion, up 3.5 per cent from the previous trading day.
The majority of the stocks saw a price decrease today as out of 394 stocks traded, only 11 saw gains, while 371 declined and 12 remained unchanged on the DSE trading floor.
Square Pharmaceuticals was the most-traded stock with shares worth Tk 746.07 million changing hands, followed by United Commercial Bank, BRAC Bank, City Bank and Dhaka Bank.
The Chittagong Stock Exchange (CSE) also experienced a decline, with its All Share Price Index (CASPI) and Selective Categories Index (CSCX) losing 228 and 138 points, respectively.
The port city bourse traded 3 million shares and mutual fund units with a turnover volume of Tk 132 million.
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