Stocks today fell for the second consecutive session as investors continued profit-taking amid concerns over the sustainability of the recent market rally and uncertainty over upcoming corporate earnings. The DSEX, the broad index of the Dhaka Stock Exchange (DSE), shed 45.6 points, or 0.82pc, to close at 5,533 points, down from 5,578 points in the previous trading session.
Selling pressure persisted throughout the session as cautious investors largely stayed on the sidelines, awaiting clearer market signals amid a lack of fresh positive catalysts and concerns over the upcoming earnings season. Market turnover also declined by 3.8pc to Taka 7.3 billion from Taka 7.6 billion in the previous session.
Textiles accounted for the highest share of turnover at 19.2pc, followed by general insurance at 17.1pc and pharmaceuticals at 14.7pc. Most sectors recorded negative returns. Cement posted the highest correction of 3.3pc, followed by life insurance at 2.2pc and IT at 1.9pc. In contrast, jute gained 2.8pc, mutual funds 2.8pc and general insurance 0.6pc.
Of the 395 issues traded on the DSE, prices of 75 advanced, 273 declined and 47 remained unchanged. The Chattogram Stock Exchange (CSE) also closed lower. Its Selective Categories' Index (CSCX) declined by 90.3 points, while the All Share Price Index (CASPI) fell by 128.9 points.
Financial Mirror/AH
