The Dhaka Stock Exchange (DSE) is undergoing a protracted period of falling stocks, marked by decline in nine straight sessions. The alarming trend has led the core DSEX index to sweep below the 5,000 point threshold, an event not witnessed in around half a year. The last time the DSEX stooped that low was back in late October the prior year, where it recorded 4,894.53 points. As for the most recent session, the critical index of DSE slipped down 49.87 points, eventually closing off at 4,972.59, marking a decrease of 0.99 percent.
The situation is not solely confined to the DSEX, however. The Shariah-compliant DSES index also evidenced a downward trend, sliding down by a noteworthy 1.47 percent to establish at 1,104.70. Meanwhile, the DS30, an index highlighting the movement of blue-chip stocks, wrapped up at a slightly lower than usual 1,845 points after a drop of 1.20 percent. It has become clear that this turbulence is affecting multiple segments of the market, not just the DSEX.
In contrast to the dropping indices, the turnover – a key parameter in measuring market vibrancy – indicated an increase. From the last session, the turnover rose by 22 percent, totalling to Tk 367.14 crore. This might suggest a slight increase in investor engagement despite the predominating bearish vibes emanating from the market. The investment scenario is being closely watched, especially with the rise in activity against the background of the continuously bearish market.
In total, 395 issues were maneuvered during this trading session. Out of these, there were only 52 instances reporting an advancement, starkly outnumbered by the 300 issues that faced decline. The rest, 46 in number, remained consistent without registering any change. This suggests that despite some issues beholding positive movement, the slump in the market is hitting most traded entities.
The session was not devoid of top performers, though. Energypac Power Generation was spotted carving out a notable path, with its shares surging up by 9 percent. As investors are currently in a crucial period of shifting their focus, such strong performers stick out, painting a bittersweet picture of the mutually coexisting optimism and pessimism within the market.
On the other side of the spectrum, shares of the Eastern Bank recorded a cliff drop with their value plummeting by an unprecedented 20 percent. It is reflective of the wider difficulties that have been plaguing the marketplace, with the downward movement being directly influenced by the troubled sentiment currently prevalent in the stock exchange.
Meanwhile, in the Chittagong Stock Exchange, changes were felt too. The CSE All Share Price Index also experienced decrement. It diminished by 0.38 percent, conclusively closing at a lowered rate of 13,956.96. It remains to be seen if this lowered closing results from an echo of the situation in DSE, or if it’s an unrelated setback specific to the CSE.
The post Dhaka Stock Exchange Sweeps Below 5000 Points Amidst 9-Session Decline appeared first on Real News Now.
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