Stocks rattle again

Stocks today rattled again following the previous session's breather, as the absence of any favorable developments from the ceasefire negotiations in the Middle East conflict prompted investors to retreat to the sidelines in fear of escalating geopolitical uncertainty. DSEX, the broad index of the Dhaka Stock Exchange, declined by 41.0 Points to settle at 5,230 points as against 5,271 points in the previous trading session.

Although market indices opened on a positive tone, the momentum swiftly lost traction as jittery investor sentiment triggered broad-based sell-offs, reflecting a lack of confidence across the trading floor. As the session progressed, selling pressure intensified in large-cap stocks, ultimately dragging the broad index to close in negative territory. Market turnover decreased by 5.2 per cent to Taka 7.9 billion from Taka 8.3 billion in the previous session. On the sectoral front, Engineering (16.6pc) accounted for the highest share of turnover, followed by Pharma (11.3pc) and General Insurance (11.1pc) sectors.

Sectors displayed mixed returns, out of which Mutual Fund (1.8pc), Ceramic (0.7pc) and Paper (0.7pc) exhibited the most positive returns, while Life Insurance (-1.6pc), Bank (-1.4pc) and General Insurance (-1.4pc) displayed most correction on the bourse today. Of the 397 issues traded, 124 advanced, 209 declined, and 63 remained unchanged. The port city bourse, CSE, also settled on a negative territory. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) lost 23.4 points and 41.5 points, respectively.