Dhaka, Oct 29, (V7N) – Stocks extended their downward trend on Thursday as falling prices of large-cap shares weighed on the market, with the benchmark index of the Dhaka Stock Exchange (DSE) losing 15.8 points amid cautious investor sentiment over corporate earnings and persistent domestic economic headwinds.
The DSEX, the broad index of the DSE, declined 15.8 points to settle at 5,417 points, down from 5,433 points in the previous trading session, failing to sustain the brief recovery recorded a day earlier.
Market sentiment remained subdued as risk-averse investors continued to reduce their equity exposure following weaker earnings reported by several large-cap companies, putting further pressure on the broader market.
Meanwhile, market turnover increased by 28 percent to Tk 560 crore from Tk 440 crore in the preceding session.
On the sectoral front, textile stocks accounted for the highest share of turnover at 17.9 percent, followed by bank stocks at 16.4 percent and general insurance stocks at 12.4 percent.
Most sectors posted negative returns, with food stocks recording the steepest decline of 3.0 percent, followed by jute at 2.4 percent and financial institutions at 2.0 percent. In contrast, mutual funds posted the highest positive return of 1.2 percent, followed by general insurance at 0.8 percent and tannery stocks at 0.3 percent.
Of the 395 issues traded on the DSE, 183 declined, 145 advanced and 67 remained unchanged.
However, the Chittagong Stock Exchange (CSE) ended the session in positive territory, with its selected indices CSCX and CASPI gaining 35.5 points and 46.3 points, respectively.
Analysts said investors are likely to remain cautious in the near term, with attention focused on upcoming earnings disclosures and broader economic indicators that could shape market direction in the coming sessions.
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