Business

DSE continues downward trend

Dhaka stocks continued their downward trend for a third consecutive day, with the main index seeing a decline driven by poor performances in the non-bank financial institutions (NBFIs) and engineering sectors yesterday.

The DSEX, the benchmark index of the bourse, declined 68.08 points, or 1.24 percent, to close at 5,381.84, according to Dhaka Stock Exchange data.

Other indices followed the performance of the main index. Shariah-based DSES decreased 1.63 percent to 1,158.95, while the blue-chip DS30 went down by 1.12 percent to 2,083.43.

Turnover, a key indicator of investor activity, stood at Tk 621.49 crore, down from Tk 654.72 crore in the previous session, signifying lower investor participation in line with the market downturn.

The market closed in the red as all the large-cap sectors posted negative performance

The market closed in the red as all the large-cap sectors posted negative performance, said BRAC EPL Stock Brokerage Ltd in its daily market update.

Block trades, high-volume transactions involving large numbers of securities, contributed 4.8 percent of the overall market turnover.

Market breadth was overwhelmingly negative, with 39 issues advancing against 307 declining, while 50 remained unchanged.

Among the major sectors, NBFI experienced the highest loss of 2.65 percent, followed by engineering 1.36 percent, fuel and power 1.24 percent, banks 1.05 percent, telecommunication 1.05 percent, pharmaceuticals 0.96 percent, and food and allied 0.95 percent, respectively.

Khan Brothers PP Woven Bag Industries Limited was the most traded share with a turnover of Tk 25.5 crore, BRAC EPL said.

On the day's performance table, Prime Finance & Investment surged 9.52 percent to top the gainers' list, while Trust Islami Life Insurance dropped 9.5 percent, becoming the worst performer of the session.

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