Dhaka:The Dhaka Stock Exchange (DSE) experienced a decline as the DSEX index dropped by 24.5 points, closing at 5,451 points compared to 5,476 points in the previous session. This downturn was attributed to investor caution due to subdued corporate earnings and dividend declarations, alongside rising geopolitical tensions in the Middle East.
According to Bangladesh Sangbad Sangstha, the market initially opened on a positive note with buying interest across various sectors during the first half. However, increased selling pressure later in the session reversed these gains, resulting in a negative close for the benchmark index.
Despite the overall market decline, turnover improved by 6.6 percent to Tk 570 crore from Tk 530 crore in the previous session. Textile stocks led the turnover at 23.9 percent, followed by miscellaneous companies at 11.1 percent and general insurance at 8.8 percent.
Most sectors reported negative returns, with general insurance seeing the largest drop of 3.5 percent, followed by mutual funds at 2.9 percent and life insurance at 2.2 percent. On the other hand, paper stocks increased by 1.0 percent, fuel and power advanced by 0.8 percent, and miscellaneous stocks rose by 0.6 percent.
Out of the 395 issues traded, 262 declined, 77 advanced, and 56 remained unchanged. The Chittagong Stock Exchange (CSE) also saw a decline, with its Selective Categories' Index (CSCX) falling by 17.8 points and the All Share Price Index (CASPI) dropping by 25.7 points.