Dhaka Stock Exchange (DSE) witnessed a significant downturn as the daily turnover plummeted to a four-month low on Sunday, reaching Tk 4.17 billion – a staggering 14% drop from the previous day. This marked the lowest transaction volume recorded since April 13 this year, underscoring the prevailing market uncertainty. Investors showcased a hesitancy to engage in fresh stock investments amidst escalating political tensions, resulting in a lackluster performance of the benchmark index, DSEX. The index fell by 14.05 points to 6,316, its lowest level in seven weeks, with key contributors to the slump including LafargeHolcim, Olympic Industries, JMI Hospital Requisite, Heidelberg Cement, and Bangladesh Shipping Corporation. A dearth of institutional buyers and the imposition of floor prices contributed to the subdued market activity, preventing share buy-sell operations, while the impact of rising interest rates and corporate earnings for the latest quarter ending in June further dampened investor confidence.
The market’s dynamics were further reflected in the trading patterns, as 160 issues remained stagnant, 39 issues advanced, and 134 issues experienced price erosions on the DSE trading floor. Investors displayed heightened activity in the food sector, which accounted for 17% of the turnover, followed by general insurance at 16.6%, and textile at 11%.
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