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9 days ago

Stocks slip amid persistent cautious selling

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Stocks ended lower on Tuesday as persistent cautious selling dragged most stocks into negative territory.

The DSE's prime index decreased by 37.66 points, closing at 5,132.01.

The equity indices of the Dhaka Stock Exchange experienced a steep decline for the second straight session, indicating shaky investor confidence amid ongoing economic uncertainties, according to EBL Securities.

The blue-chip index DS30, comprising 30 leading companies, decreased by 18.52 points to 1,893.45, while the DSES Index, representing Shariah-compliant companies, decreased by 10.57 points to 1,155.65 by the close.

Although the market showed early signs of resilience, a persistent cautious selling trend eventually dragged most stocks back into negative territory. Investor sentiment remained fragile due to concerns over the potential impact of US tariffs, ongoing IMF loan negotiations, and a recent hike in fuel prices—factors that led many to adopt a wait-and-see approach, EBL Securities said.

Turnover, a crucial indicator of the market, stood at Tk 4.46 billion, up 7.68 per cent from the previous trading day.

The majority of the stocks saw a price decrease, as out of the 397 issues traded, 98 closed higher, 255 ended lower, and 44 remained unchanged on the DSE trading floor.

Bangladesh Shipping Corporation was the most-traded stock, with shares worth Tk 210.29 million changing hands, followed by Beximco Pharmaceuticals, Shinepukur Ceramics, Beach Hatchery and AB Bank 1st Mutual Fund.

The Chittagong Stock Exchange (CSE) also ended down, with its All Share Price Index (CASPI) decreasing by 100.15 points to settle at 14,371 and the Selective Categories Index (CSCX) decreasing by 55.52 points to settle at 8,754.

The port city bourse traded 2.83 million shares and mutual fund units with a turnover volume of Tk 71.34 million.

farhan.fardaus@gmail.com

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