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DSE Stocks Drop, CSE Indexes Gain in Mixed Market Session

The Dhaka Stock Exchange (DSE) saw a decline as profit-taking impacted major stocks, while the Chittagong Stock Exchange (CSE) ended positively.

By Staff Correspondent
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Stocks on DSE down, up on CSE  | Business
BSS

The benchmark index of the Dhaka Stock Exchange (DSE) retreated into correction territory as profit-taking in major stocks weighed on market sentiment following the previous session's rally. The broad index, DSEX, fell 18.2 points to close at 5,781, slipping below the 5,800 level it had crossed in the previous trading session.

Market Dynamics

The market remained relatively stable during the opening hour before sustained selling pressure pushed the index lower throughout the session as investors booked profits in recently gained stocks. Despite continued investor participation, turnover declined by 2.0 percent to Taka 13.9 billion from Taka 14.2 billion in the previous session.

Sectoral Performance

Textile stocks dominated trading, accounting for 20.9 percent of the day's turnover, followed by general insurance (11.5 percent) and pharmaceutical issues (11.2 percent). Among sectoral performances, services, cement, and fuel & power recorded the biggest declines, while mutual funds, textiles, and general insurance posted gains.

Stock Movements

Of the 396 issues traded on the DSE, 160 advanced, 175 declined, and 61 remained unchanged. Meanwhile, the Chittagong Stock Exchange (CSE) ended the day on a positive note, with the CSCX index gaining 25.8 points and the CASPI index advancing 42.9 points.

Significance for Investors

The mixed performance between the DSE and CSE indicates varied investor sentiments and sector-specific trends. Investors should monitor sectoral performances closely and consider the impact of profit-taking on market dynamics. The textile, general insurance, and pharmaceutical sectors showed resilience despite the overall decline in the DSE.

Source: BSS

FAQ

Why did the DSE index decline?
Profit-taking in major stocks weighed on market sentiment.

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