The bearish sentiment at the country’s premier bourse intensified yesterday as the benchmark index extended its losing streak for the second consecutive session.
Driven by broad-based selling pressure, the Dhaka Stock Exchange (DSE) witnessed a significant erosion of its total valuation, with the market capitalisation dropping by approximately Tk6,300 crore over the last three trading sessions alone.
By the close of today’s (6 May) trading session, market capitalisation stood at Tk6.79 lakh crore, underscoring a cautious investor sentiment amid prevailing uncertainties and the absence of fresh catalysts to propel the indices higher.
The benchmark DSEX index shed 18 points, or 0.34% yesterday, to settle at 5,248. The downturn was mirrored in the blue-chip segment, where the DS30 index, which comprises 30 prominent companies, ended 8 points lower at 2,009.
Market breadth remained heavily skewed toward the bears throughout the session, with 216 issues declining against 108 gainers, while 67 scrips closed unchanged on the DSE floor.
Market participation also saw a notable decline, with daily turnover on the DSE dropping by 8% to stand at Tk767 crore. The drop in trading activity indicates that many investors are staying on the sidelines, awaiting clearer signals on the sustainability of current price levels before deploying fresh capital.
Despite the overall market gloom, certain stocks managed to attract significant investor interest. Monno Ceramic led the turnover chart, followed by Dominage Steel, Malek Spinning, Techno Drugs, and GQ Ball Pen.
On the gainers’ chart, Monno Ceramic led the rally with a price hike of 9.68%, followed closely by Yeakin Polymer and Mozaffar Hossain Spinning, both of which surged by over 9.6%. Silco Pharma and Sikder Insurance also featured among the top performers of the day.
Conversely, the non-bank financial institution (NBFI) sector faced the brunt of the sell-off. Premier Leasing, Fareast Finance, and International Leasing all recorded a sharp decline of 8.69%, while United Insurance and Bangladesh Industrial Finance Company (BIFC) also faced notable corrections.
The negative trend was mirrored at the Chittagong Stock Exchange (CSE), where the CSCX index edged down marginally to finish at 9,109 points. The CASPI, the broad index of the port city bourse, ended 14 points lower at 14,801.
Interestingly, while the key indices dipped, the CSE saw a significant 37% jump in turnover, which stood at Tk20.72 crore.
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