DSE, CSE close lower amid persistent investor pessimism

Stocks ended lower on Wednesday as cautious investors refrained from taking positions in equities due to the market's waning momentum.

The investors were mostly cautious due to uncertainties over the ongoing economic and political tensions, while the news of another big fine to market manipulators further triggered the prevailing investor pessimism.

The prime index of the Dhaka Stock Exchange (DSE) decreased by 42.33 points to settle at 5,124.50.

This was the fifth consecutive decline of the DSE main index, DSEX, which has lost 114 points or 2.17 percent over the last five trading sessions.

The blue-chip index DS30, a group of 30 prominent companies, saw a 14.20-point decrease to 1889.42, while the DSES Index, which represents Shariah-based companies, saw a 12.44-point decrease to 1,142.10 till the end.

Turnover, a crucial indicator of the market, stood at Tk 3.04 billion, down 21 percent from the previous trading day.

The majority of the stocks saw a price decrease, as out of the 399 issues traded, 50 closed higher, 291 ended lower, and 58 remained unchanged on the DSE trading floor.

Asiatic Laboratories was the most-traded stock with shares worth Tk 117 million changing hands, followed by Beximco Pharmaceuticals, Dragon Sweater and Spinning, Orion Pharma, and Orion Infusion.

The Chittagong Stock Exchange (CSE) also ended lower with its All Share Price Index (CASPI) decreasing by 75.35 points to settle at 14364 and the Selective Categories Index (CSCX) losing 43 points to settle at 8743.

The port city bourse traded 2.28 million shares and mutual fund units with a turnover volume of Tk 47.96 million.