DSEX recovers 48 points over last two sessions

Stock investors experienced some relief in the last two sessions amid selling pressure in a bearish market trend following the announcement of the national budget. 

At the end of the week, the prime index DSEX decreased by 2.28% to 5,117.81 points on the Dhaka Stock Exchange (DSE), with the blue-chip DS30 plummeting 1.94% to 1,821.89 points.  

Shariah index DSES was also down by 2.52% to settle at 1,108.06 points, while DSMEX (DSE SME Index) declined by 2.92% to 1,466.03 points.

However, the weekly average turnover on the DSE dropped by 16.64% to Tk376.45 crore compared to the previous week. The total turnover stood at Tk1,882.27 crore, down from Tk2,258.02 crore in the previous week. 

Of the total scrips traded, 54 advanced, 323 declined, 17 remained unchanged, and 18 were not traded.

The market capitalization dropped by 1.99% to Tk6,33,593.86 crore from Tk6,46,477.90 crore compared to the previous week. 

This bearish trend reflects investors’ concerns and market reactions to the new fiscal policies and economic measures outlined in the budget for FY25, according to market insiders.

Samata Leather Complex, Atlas Bangladesh, and Mithun Knitting and Dyeing were the top gainers of the week on the DSE, followed by Safko Spinning Mills, Unilever Consumer Care, Crystal Insurance Company, and Capitec Grameen Bank Growth Fund. 

On the other hand, Bangladesh Finance and Global Islami Bank were the top losers, followed by Sonali Aansh Industries, Khan Brothers PP Woven Bag Industries, and Coppertech Industries Limited.

On the DSE, the three most traded stocks were Beacon Pharmaceuticals, Taufika Foods and Lovello Ice-cream, and Asiatic Laboratories Limited. 

In its daily market commentary, EBL Securities said the country’s premier bourse continued a bearish trend as budgetary proposals to impose capital gain taxes and reduce tax rate differences between listed and non-listed companies negatively affected investors’ sentiment. 

Additionally, it has been proposed to reduce investors’ capital market exposure further in the next fiscal year despite an uncertain market outlook.

The market began the week on a negative note, with sellers dominating the market in the first three sessions of the week, pushing the DSE’s benchmark index to hit a 42-month low. 

However, bargain hunters took control in the last two sessions of the week as they opted to take positions in the low-priced scrips, driven by positive expectations due to rumors of the probable withdrawal of the proposed capital gain taxes.

Pharmaceutical sector led the weekly turnover with a 23.3% contribution, followed by food and textiles. 

The port city bourse, CSE, also settled on red terrain. The turnover of the bourse stood at Tk367.52 crore. The selected indices (CSCX) and All Share Price Index (CASPI) declined by 2.68% and 2.67%, respectively.