Major Slump in Stock Market as DSE Ends Week on a Low Note
The benchmark index, DSEX, plummeted by 60 points to close at 5,257 points, reflecting a sharp decline compared to the previous session. Market analysis indicates that the indices remained on a downward trajectory from the very beginning of the trading hours, driven by a heavy sell-off pressure as investors moved to offload their holdings ahead of the weekend.
The downturn was reflected across all major indices at the DSE. The DSES (Shariah index) dropped by 12 points to settle at 1,063, while the DS30 (blue-chip index) saw a decline of 23 points, ending the day at 2,002 points. Trading volume also saw a notable contraction, with shares worth Tk 776.86 crore being traded—a decrease of Tk 215 crore compared to the previous day. Out of the 390 issues traded, only 70 advanced, while 306 declined and 14 remained unchanged, highlighting a widespread bearish sentiment across the floor.
In contrast to the capital city’s bourse, the Chittagong Stock Exchange (CSE) presented a mixed picture. While the CASPI (overall index) fell by 44 points to close at 14,773, the transaction volume at the port city’s exchange saw a surprise surge. Shares worth Tk 110.57 crore were traded at the CSE on Thursday, marking an increase of Tk 79 crore compared to the previous trading session. Despite the higher turnover, the general market sentiment in Chattogram remained largely aligned with the negative trend observed in Dhaka.
Financial analysts attribute this weekly closing slump to cautious investor behavior amidst shifting macroeconomic indicators. The significant disparity between advancing and declining issues suggests that large-cap stocks were particularly affected by the selling spree. As the market closes for the weekend, stakeholders are closely monitoring policy developments and corporate earnings reports, hoping for a rebound in investor confidence when trading resumes on Sunday.
