Dhaka:Stocks fell for the second consecutive session as investors continued profit-taking due to concerns over the sustainability of the recent market rally and uncertainty regarding upcoming corporate earnings.
According to Bangladesh Sangbad Sangstha, the DSEX, the broad index of the Dhaka Stock Exchange (DSE), dropped 45.6 points, or 0.82 percent, closing at 5,533 points, down from 5,578 points in the previous trading session.
Selling pressure persisted throughout the session as cautious investors largely stayed on the sidelines, awaiting clearer market signals amid a lack of fresh positive catalysts and concerns over the upcoming earnings season. Market turnover also declined by 3.8 percent to Taka 7.3 billion from Taka 7.6 billion in the previous session.
Textiles accounted for the highest share of turnover at 19.2 percent, followed by general insurance at 17.1 percent and pharmaceuticals at 14.7 percent. Most sectors recorded negative returns, with cement posting the highest correction of 3.3 percent, followed by life insurance at 2.2 percent and IT at 1.9 percent. In contrast, jute gained 2.8 percent, mutual funds 2.8 percent, and general insurance 0.6 percent.
Out of the 395 issues traded on the DSE, prices of 75 advanced, 273 declined, and 47 remained unchanged. The Chattogram Stock Exchange (CSE) also closed lower, with its Selective Categories' Index (CSCX) declining by 90.3 points and the All Share Price Index (CASPI) falling by 128.9 points.