Special Correspondent
DSEX, the key index of the Dhaka Stock Exchange (DSE), continued its downbeat trend, with the benchmark index closing in red territory for six consecutive sessions.
The main index fell by 13.9 points to settle at 5,113 points as the wavering market sentiment induced caution among market participants to stay on the sidelines and remain watchful of the market's momentum surrounding the ongoing corporate earnings declarations.
The blue-chip index DS30 (-0.04%), the Shariah-based index DSES (-0.69%), and the large-cap index CDSET (+0.06%) closed at 1,896.30, 1,137.53, and 1,044.42 points, respectively. Large-cap sectors posted mixed performance on Wednesday.
The Food & Allied booked the highest gain of 1.09%, followed by Fuel & Power (+0.38%), Telecommunication (+0.29%), Bank (-0.03%), Pharmaceutical (-0.57%), Engineering (-1.15%), and NBFI (-1.62%), respectively. Block trades contributed 1.4% of the overall market turnover. Khan Brothers PP Woven Bag Industries Limited (-1.3%) was the most traded share with a turnover of Tk 12 crore.
Meanwhile, market turnover further decreased by 4.3% to a 3-week low of Tk 3.1 billion as against Tk 3.3 billion in the previous session.
Four sectors out of 19 were the gainers, and 15 were on the losing side. Of the 395 scrips traded, 124 advanced, 206 declined, and 65 remained unchanged. KBPPWBIL topped the turnover chart. HAKKANIPUL was the top gainer, whereas DSE: BIFC was the top loser. In the block market, shares of Tk 4 crore were transacted, representing a turnover of 1.36%.
The SME index, DSMEX, increased by .98 pts, and the market generated a Tk 7 crore turnover, a 4% increase from the previous session.
According to the Royal Capital Financial Portal, SQUARPHARMA and ISLAMIBANK contributed the most to the gains and the losses of the DSEX index on the day, and the bear ultimately wins today after a day-long fight with the bull.
EBL Securities said that the market volatility persisted throughout the session, while sellers remained mostly on the dominant side as they remained clung to an uncertain market.
However, opportunities investors opted to capitalize on favorable earnings calls and take positions in sector-specific scrips with quick gain potential.
The port city bourse, CSE, also settled on red terrain. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) declined by 29.1 and 43.3 points, respectively.
