Highlights:
- DSEX index dropped 89 points (1.58%) to 5,538
- Market capitalisation lost Tk5,000 crore, now Tk7.26 lakh crore
- 305 stocks declined, only 68 advanced
- Turnover fell 16% to Tk1,177 crore
- Large-cap sectors like engineering, banking, and telecom dragged the market
A Day of Sharp Correction in DSE
The Dhaka Stock Exchange (DSE) faced a big correction yesterday as its main index, the Dhaka Stock Exchange, fell by 89 points or 1.58%, closing at 5,538. The blue-chip index DS30 also slipped by 39 points (1.78%) to 2,152, showing pressure across leading companies.
Most Stocks in the Red
Out of 401 companies traded, nearly three-quarters were losers. A total of 305 stocks declined, while only 68 stocks gained and 28 remained unchanged in Dhaka Stock Exchange.
Turnover and Market Capitalisation Decline
The day’s Dhaka Stock Exchange turnover stood at Tk1,177 crore, which is 16% lower compared to the previous session. Alongside, market capitalisation dropped by Tk5,000 crore, settling at Tk7.26 lakh crore.
A managing director of a brokerage firm explained that this fall was mostly a typical correction after a recent rally. He noted that profit-taking sell pressure was the main reason.
He added:
- “Usually, big falls occur after sharp rallies.”
- “The positive side is that turnover did not fall sharply, showing demand is still there.”
According to him, day traders dominated the market, while fresh funds were limited. He also suggested that given the current liquidity, this fall may not last long.
Sector-Wise Performance
All large-cap sectors ended lower:
- Engineering: fell the most by 2.13%
- Banking: down 1.68%
- Telecommunications: dropped 1.67%
- Pharmaceuticals: fell 1.38%
- Food & Allied: lost 1.25%
- Fuel & Power: down 0.79%
- Non-Bank Financial Institutions: dropped 0.61%
Top Traded Companies
The most traded shares were led by Orion Infusion, Robi, Khan Brothers PP Woven Bag, City Bank, and eGeneration.
Gainers and Losers
Interestingly, low-fundamental and weak companies dominated the gainers list:
- Tallu Spinning: gained 10%
- Information Service Network: up 9.96%
- Intech: rose 9.70%
- CAPM BDBL Mutual Fund: gained 9.17%
- Peoples Leasing: advanced 8.33%
Meanwhile, the top losers were:
- BIFC: fell 7.31%
- Aramit Cement: dropped 6.61%
- Safko Spinning: lost 6.53%
- Nahee Aluminium: down 6.48%
- Western Marine Shipyard: dropped 6%
CSE Also Follows Downtrend
The bearish mood spread to the Chittagong Stock Exchange (CSE) as well. The CSCX index lost 127 points, closing at 9,557, while the CASPI index fell 202 points to 15,570.
CSE turnover stood at Tk19.77 crore, showing limited activity compared to DSE.
Source: TBS
