Representational image.
Dhaka stocks fell for the sixth day on Thursday, as investors continued offloading shares amid the ongoing downward trend on the trading floor, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, lost 6.06 points, or 0.10 per cent, and settled at 5,968.04 points on the day after losing 32.76 points in the previous trading session.
The key index on the previous trading session dropped below 6,000 points for the first time after July 28, 2022.
Market operators said that the recent downgrading of companies to the junk category contributed to the downbeat vibe.
The DSE recently downgraded a total of 28 companies to the ‘Z’ category, which groups low-profile scrip, following an order from the Bangladesh Securities and Exchange Commission.
Investors showed an increased activity on Thursday, as the turnover on the DSE increased to Tk 514.63 crore compared with that of Tk 483.30 crore in the previous trading session.
Of the 394 issues traded on the day, 165 advanced, 171 declined and 58 remained unchanged.
On the sectoral front, engineering issues exerted the highest turnover on the day, followed by pharmaceutical and food stocks.
EBL Securities in its daily market commentary said, ‘Market volatility still persists as market confidence is yet to be restored owing to concerns regarding the market outlook.’
‘However, a portion of opportunistic investors continued to take positions in the beaten-down scrips, which they perceived to be at lucrative price levels,’ it added.
The DSE Shariah index decreased by 1.02 points, or 0.07 per cent, to close at 1,299.80 points on Thursday.
The DS30 index lost 4.98 points, or 0.24 per cent, to finish at 2,051.58 points.
Golden Son Ltd topped the turnover chart on the day with its shares worth Tk 27.87 crore changing hands.
SS Steel Limited, Fu-Wang Ceramic Industries Ltd, Orion Infusion Ltd, Taufika Foods and Lovello Ice-cream PLC, Golden Harvest Agro Industries Ltd, Bangladesh Building Systems Ltd, Karnaphuli Insurance Company Ltd, Fortune Shoes Limited and Central Pharmaceuticals Limited were the other turnover leaders.
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