Dhaka:Falling prices of large-cap companies dragged the stock market down today as the benchmark index of the Dhaka Stock Exchange (DSE) declined for the second consecutive session amid cautious investor sentiment. The DSEX, the broad index of the DSE, shed 32.3 points to close at 5,385 points, down from 5,417 points in the previous trading session.
According to Bangladesh Sangbad Sangstha, market sentiment remained subdued amid ongoing corporate earnings disclosures, with disappointing earnings and dividend announcements from several large-cap companies prompting investors to reduce their equity exposure. Despite intermittent recovery attempts, selling pressure persisted throughout the session, reflecting investors' concerns over the market's near-term outlook and prevailing domestic economic challenges.
Meanwhile, turnover on the DSE fell 14.6 percent to Tk 480 crore from Tk 560 crore in the previous session. Textile stocks accounted for the highest share of turnover at 20.5 percent, followed by General Insurance at 17.3 percent and Banking at 11.3 percent.
Sector-wise, Jute suffered the highest loss of 5.5 percent, followed by Food at 2.7 percent and Travel at 1.7 percent. In contrast, Mutual Fund gained 2.9 percent, General Insurance 1.1 percent and Textile 0.8 percent. Of the 395 issues traded, 150 advanced, 186 declined and 59 remained unchanged.
The Chittagong Stock Exchange (CSE) also closed lower, with its Selective Categories' Index (CSCX) and All Share Price Index (CASPI) losing 45.9 points and 82 points, respectively.