Dhaka stocks continued its negative trend for the second consecutive session on Wednesday, as a section of investors liquidated their holdings to realise from their recent gains amid the current volatility of the market, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, decreased by 34.49 points, or 0.60 per cent, to close at 5,690.78 points on the day after losing 1.73 points in the previous trading session.
Market operators said that the session was dominated by the sellers.
With cautious investors decreasing their activity and seeking to book profits, the total turnover of the Dhaka bourse decreased by more than Tk 200 crore, they said.
The total turnover of the DSE on Wednesday was Tk 869.59 crores, while the bourse posted Tk 1,108.34 crore as the total turnover amount in the previous session.
At the previous session on Tuesday, the total turnover of the Dhaka bourse on the day crossed the Tk 1,100-crore mark after 83 days.
The last time Dhaka Stock Exchange posted the total turnover over Tk 1,100 crore was on February 14, 2024, with the turnover amount standing at Tk 1,173.58 crore on the day.
Cautious investors chose to reduce their capital market exposure amidst concerns over the market outlook owing to a challenging external environment, according to EBL securities daily market research.
The market was on the rebound before the previous session, which came after a decrease in price indices in nine out of 11 weeks, market operators said.
Of the 397 issues traded on the day, 94 advanced, 253 declined and 50 remained unchanged.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by textile and engineering stocks.
EBL Securities in its daily market commentary said, 鈥業nvestor sentiment has been affected by the potential interest rate hikes in the money market following the latest increase in policy rates and abolishment of the existing SMART reference rate, along with further devaluation of the local currency that may also have an impact on the current market recovery.鈥�
The DSE Shariah index decreased by 4.60 points, or 0.36 per cent, to close at 1,250.41 points on Wednesday.
The DS30 index lost 14.15 points, or 0.69 per cent, to finish at 2,026.22 points.
Far East Knitting & Dyeing Industries topped the turnover chart on the day with its shares worth Tk 35.44 crore changing hands.
Malek Spinning Mills, Golden Son, Asiatic Laboratories, Navana Pharmaceuticals, eGeneration, Shinepukur Ceramics, Best Holdings, Kohinoor Chemicals Company (Bangladesh) and Oimex Electrode were the other turnover leaders.
