Dhaka stocks tumble for second day, plunge 80 points

Business Report :

Dhaka stocks continued their slump for the second consecutive session on Wednesday, as the poor performance of large-cap sectors dragged the indexes down, while turnover also declined.
The DSEX, the benchmark index of the bourse, declined 80.75 points, or 1.55 percent, to close at 5,116.51, according to DSE data.

At the end of the day’s trading, the DSEX stood at 5,116 points — down from 5,197 points on Tuesday. The benchmark index began October at 5,415 points, marking a cumulative loss of 299 points in just 15 days.

The Shariah-based index DSES dropped by 20 points, while the blue-chip index DS30 fell by 28 points, declining by 1.82per cent and 1.43per cent respectively over the previous session.
Market breadth was firmly negative, with 33 issues advancing, 328 declining, and 35 remaining unchanged.

Prices fell sharply across all three categories — A, B and Z. In the premier A-category, which includes companies with the highest dividend records, only 22 issues gained, while 178 lost value.
In the block market, shares worth Tk 6.35 crore were traded across 16 companies, with Mutual Trust Bank posting the highest transaction of Tk 1.98 crore.
Among the major sectors, non-bank financial institutions suffered the steepest decline, tumbling 3.23 percent.
The sectoral slide was followed by engineering, which shed 2.11 percent, while fuel and power dropped 1.45 percent.
Pharmaceuticals lost 1.38 percent, food and allied slipped 1.36 percent, banks retreated 1.10 percent, and telecommunications eased 0.91 percent.