Stocks extend losing streak

The country’s capital bourse extended its losing streak for a third consecutive session on Wednesday as investors maintained a cautious stance amid recent market volatility and ongoing adjustments in a heavyweight banking stock following its record date. The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell by 14.3 points to close at 5,234 points, down from 5,248 points in the previous session. 

Although the index remained marginally positive during mid-session trading, persistent selling pressure gradually eroded early gains, pushing the market into negative territory by the close. Market activity showed a rise in participation, with turnover increasing by 10.1 percent to TK  8.4 billion from TK  7.7 billion in the previous session. Analysts noted that despite the index decline, heightened trading reflected active repositioning by investors across select sectors.

Sector-wise performance remained mixed. Engineering accounted for the highest share of turnover at 15.5 percent, followed by Textile at 13.5 percent and General Insurance at 12.9 percent. Among sectors, General Insurance led gains with a 2.5 percent rise, while Travel and Ceramic advanced by 0.8 percent and 0.5 percent respectively. On the other hand, Paper declined by 1.4 percent, while Life Insurance and Jute each fell by 0.8 percent.

Investor sentiment remained cautious as market participants weighed global uncertainties, including developments surrounding ceasefire negotiations in the Middle East. Speculative activity, however, shifted selectively toward the insurance sector, driven by short-term trading opportunities. Of the 396 issues traded on the DSE, 123 advanced, 194 declined, and 79 remained unchanged. Meanwhile, the port city bourse also ended lower. The Chattogram Stock Exchange (CSE) Selective Categories Index (CSCX) fell by 61.7 points, while the All Share Price Index (CASPI) declined by 98.8 points.