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Stocks ended lower on Wednesday as risk-averse investors continued to sell off their holdings and opted to observe market trends.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), dropped by 47.45 points to close the day at 5,739.
The benchmark index of the Dhaka bourse extended its correction mode for three consecutive sessions as risk-averse investors continued their sell-frenzy and preferred to observe the market’s trend and sit on cash to look for lucrative investment opportunities following the corrections, EBL Securities said.
The blue-chip index DS30, which includes 30 leading companies, dropped by 19.85 points to 2,113. Similarly, the DSES Index, which represents Shariah-based companies, decreased by 9.62 points to 1,227.85.
Market volatility persisted throughout the session as sellers continued their dominance due to the weakening strength of the market’s momentum, added EBL Securities.
Turnover, a crucial indicator of the market, fell to Tk 5.93 billion, a decrease of 18.31 per cent from the previous trading day.
The majority of the stocks saw a price decrease, as out of the 397 issues traded, 81 closed higher, 264 ended lower, and 52 remained unchanged on the DSE trading floor.
BRAC Bank was the most-traded stock with shares worth Tk 475.94 million changing hands, followed by Agni Systems Ltd, The IBN SINA Pharmaceutical, Grameenphone Ltd and IFIC Bank PLC.
The Chittagong Stock Exchange (CSE) also experienced a decline, with its All Share Price Index (CASPI) falling by 63.15 points to 16,438, and the Selective Categories Index (CSCX) dropping 41 points to 9,909.
The port city bourse traded 2.53 million shares and mutual fund units with a turnover volume of Tk 76.58 million.