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Stocks ended lower on Sunday as the BERC announced a gas price hike for captive power plants and industries.
The DSEX, the key index of the Dhaka Stock Exchange, sank to a two-month low, dropping 35.6 points to close at 5,170 — down from 5,205 in the previous session.
Dhaka stocks tumbled as dominant sell-offs, particularly in manufacturing sector shares, followed the BERC’s abrupt announcement of a gas price hike for captive power plants and industries. This development triggered a negative reaction among investors, prompting many to adopt a cautious stance amid fears of a continued market downturn, according to EBL securities.
The blue-chip index DS30, comprising 30 leading companies, decreased by 15.93 points to 1,911.97, while the DSES Index, representing Shariah-compliant companies, decreased by 6.74 points to 1,166.21 by the close.
The indices remained in the red throughout the day, weighed down further by a price correction in the heavyweight banking sector and a post-dividend adjustment of a specific bank stock, EBL Securities said.
Turnover, a crucial indicator of the market, stood at Tk 4.14 billion, down 23.30 per cent from the previous trading day.
The majority of the stocks saw a price decrease, as out of the 397 issues traded, 79 closed higher, 270 ended lower, and 48 remained unchanged on the DSE trading floor.
Bangladesh Shipping Corporation was the most-traded stock, with shares worth Tk 285.03 million changing hands, followed by Beximco Pharmaceuticals, Uttara Bank, Eastern Lubricants Blenders and Shinepukur Ceramics.
The Chittagong Stock Exchange (CSE) also ended down, with its All Share Price Index (CASPI) decreasing by 38.50 points to settle at 14471 and the Selective Categories Index (CSCX) decreasing by 24.92 points to settle at 8834.
The port city bourse traded 2.53 million shares and mutual fund units with a turnover volume of Tk 150.13 million.