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Dhaka Stock Exchange Equity Market Continues Downward Trend

Strategic Insights

— 1 min read

The Dhaka Stock Exchange (DSE) equity market experienced a third consecutive week of decline, with the key index, DSEX, plummeting 34.8 points, or 0.64 percent, to close at 5,415.13. This downturn was attributed to a broad-based selloff, exacerbated by the absence of a reviving catalyst for the ailing market. Bargain hunters took advantage of the slump, targeting select shares at lucrative price levels, but weak market momentum kept the indices anchored in negative territory.

Key Takeaways:

  • The DSEX, the key index of the DSE, declined 34.8 points, or 0.64 percent, to close at 5,415.13.
  • Other indices, DS30 and DSES, also dropped, with DS30 tracking blue-chip stocks and DSES comprising Shariah-compliant companies.
  • Bargain hunters targeted select shares trading at lucrative price levels, but weak market momentum kept equity indices anchored in negative territory.
  • Turnover fell sharply to Tk 2,918.83 crore, down from Tk 3,505.32 crore in the previous week, with a daily average of Tk 580 crore, a 16.7 percent decline.
  • Investor sentiment remained cautious ahead of the upcoming earnings season, with many participants opting to secure short-term gains and monitor market trends.
  • Most sectors closed lower, with banks losing 1.9 percent and services gaining 3.7 percent.
  • Market breadth was largely negative, with 219 issues declining, 139 advancing, and 37 remaining unchanged.
  • GQ Ball Pen Industries was the top gainer, soaring 17.8 percent, while Baraka Power Limited endured the sharpest fall, plunging 20.7 percent.

Statistics:

  • DSEX: 5,415.13 (declined 34.8 points)
  • DS30 and DSES: declined (specific percentages not provided)
  • Turnover: Tk 2,918.83 crore (down from Tk 3,505.32 crore in the previous week)
  • Daily average turnover: Tk 580 crore (down 16.7 percent week-on-week)
  • Sectors: banks lost 1.9 percent, services gained 3.7 percent
  • Issues: 219 declined, 139 advanced, and 37 remained unchanged
  • Notable stocks: GQ Ball Pen Industries +17.8%, Baraka Power Limited -20.7%

Sources:

  • EBL Securities - weekly market review

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