DSE index dips again, losing Tk 6.94 billion in market cap over a week

The benchmark index has dropped 221 points since Aug 3, with most listed firms seeing share price corrections

The Dhaka Stock Exchange has slipped for the seventh consecutive session, with the benchmark index shedding another point to close at 5,314. The previous day, it stood at 5,315.

The continuous decline has steadily eroded market capitalisation, which stood at Tk 7.1 trillion at the close on Wednesday, down Tk 6.94 billion over the past week.

The slide began on Aug 3, when the index peaked at 5,536, following a month-long rally in July. Since then, the index has lost 221.81 points. On Aug 3, market capitalisation was Tk 7.17 trillion.

Trading opened lower on Wednesday, with the index falling in the first two hours. Buying pressure from 12:15pm pushed it up by 40 points to 5,355 by 1pm, but late-session selling dragged it back down, ending one point lower than Tuesday’s close.

While most shares fell, turnover at the DSE rose slightly to Tk 7.04 billion from Tk 6.66 billion the previous day. The block market recorded Tk 961 million in trades.

Of the 398 companies traded, 121 gained, 203 declined and 74 remained unchanged.

Pharmaceuticals and chemicals led the turnover chart with Tk 1.21 billion in trades, followed by banks at Tk 919 million and textiles at Tk 705 million.

At the day’s close, Gemini Sea Food, Legacy Footwear and Orion Infusion topped the gainers’ list in terms of closing price increases, while SEML Lecture Equity Management Fund, Rahima Food, and AIBL First Mutual Fund suffered the steepest losses.