Dhaka Stock Exchange (DSE) witnessed a return to bearish sentiment as cautious investors sought short-term gains in the volatile market. This shift resulted in a 6-point drop in the DSE’s prime index. Consequently, the DSE’s prime index lost the previous day’s gains, declining by 9.90 points to settle at 6,307.
Despite a positive start to the trading day, heavy selling pressure in the final hour pushed the market into negative territory. The market’s prolonged bearish trend, in place for over a year due to the imposition of a floor price, continues to discourage investors, including institutional ones. Additionally, uncertainty in the economic outlook is hindering fresh investments.
Investors are increasingly turning to short-term bets, reflecting dwindling confidence in the market. The indices for blue-chip companies and Shariah-based companies also registered declines. Turnover decreased by 3.42%, with most activity observed in the general insurance sector, followed by food & allied and miscellaneous sectors. Most of the traded stocks saw price erosion, emphasizing the cautious sentiment among investors. In this context, it is imperative for market participants to closely monitor economic developments.
Source for more details:
