The Dhaka Stock Exchange (DSE) today snapped its recent rally as persistent profit-taking in major stocks pulled the market into negative territory. The broad-based DSEX index fell 25.9 points, or 0.44 percent, to close at 5,900 points from the previous session's 5,926 points. Trading remained volatile from the opening bell, but sustained selling pressure in recently gained stocks intensified during the day.
Market turnover also declined sharply by 26.2 percent to Tk 11.2 billion from Tk 15.2 billion in the previous trading session, despite steady investor participation. The pharmaceutical sector dominated turnover, accounting for 17.4 percent of total transactions, followed by textiles with 13.2 percent and general insurance with 10.6 percent.
Most sectors ended lower, with life insurance losing 1.7 percent, general insurance 1.4 percent and cement 1.3 percent. In contrast, the tannery sector gained 1.2 percent, while travel and leisure rose 0.6 percent and information technology advanced 0.5 percent.
Of the 396 issues traded on the premier bourse, 102 advanced, 234 declined and 60 remained unchanged. Meanwhile, the Chittagong Stock Exchange (CSE) also closed in the red. The Selective Categories' Index (CSCX) dropped 38.5 points, while the All Share Price Index (CASPI) declined 55.0 points at the close of trading.
The recent rally in Dhaka stocks had been driven by optimism over economic recovery and positive corporate earnings. However, today's profit-taking indicates that investors are taking a cautious approach amid lingering uncertainties. The market is expected to remain volatile in the coming sessions as investors assess the near-term outlook.
