DSE loses billions in market value as index decline continues

The benchmark index has shed 28 points, with most listed firms posting losses

The Dhaka Stock Exchange (DSE) has seen its market capitalisation shrink for a sixth straight session as the key index continued its downward run following a month of steady gains in July.

On Tuesday, the DSE’s benchmark index closed 28 points lower at 5,315, compared with 5,344 the previous day. Trading began on a positive note, with the index rising 25 points to 5,369 in the first two hours, before late selling erased the gains.

The sustained correction wiped Tk 11.85 billion off market value by the close, with losses over the six-day period hitting Tk 66.92 billion. Market capitalisation had stood at Tk 7.17 trillion on Aug 3.

Turnover rose to Tk 6.66 billion from Tk 6.10 billion a day earlier, with Tk 446.8 million traded in the block market. Of the 397 companies traded, 115 advanced, 222 declined, and 60 closed unchanged.

Pharmaceuticals and chemicals led the turnover chart with Tk 922.2 million in trades, followed by banks at Tk 908.1 million and textiles at Tk 812.1 million.

At the close, Silva Pharmaceuticals, Progati Life Insurance and Dominage Steel Building Systems topped the gainers’ list, while Social Islami Bank, RSRM Steel and Monno Ceramic saw the steepest losses.