Dhaka stocks losing streak sends index below 5,000 points

Energypac, Takaful Insurance, and Prabhati Insurance close the day with the highest gains

The Dhaka Stock Exchange (DSE), the country's premier bourse, has continued a downward spiral as the key index fell below 5,000 points for the first time in over five and a half months.

The DSEX shed 49 more points on Thursday to close on 4,972 points though turnovers rose to Tk 3.67 billion, up from Wednesday’s Tk 3 billion.

Earlier on Oct 27, the DSE lost 149 points in a day as the key index plunged to 4,965.

Following the fall of the Awami League government on Aug 5, the share market started turning around as investors began recovering their capital loss.

But the comeback was short-lived as the index slipped into a mixed trend despite the trade volume rising. In September, however, the market became volatile as a fluctuating index and plummeting share prices sidelined investors again.

Meanwhile, issues in the regulatory body, Bangladesh Securities and Exchange Commission (BSEC) impacted the market as well.

The market also maintained a mixed trend during the month of Ramadan as investors hoped for a turnaround after Eid.

According to DSE data, the slide began after the extended Eid holidays, and it is gradually worsening as top companies are also losing share value.

The DSEX last rose on Apr 10, registering 5,025 points at the close as shares worth Tk 5.40 billion changed hands. On Apr 15, Tk 4.45 billion was traded on the market.

At the close of trading on Thursday, share prices for most companies were trending down.

According to DSE data, the share prices of 59 of 395 listed companies and funds increased, 300 decreased, and 68 remained at the previous price.

The food and allied products, power and energy, and engineering sectors contributed most to DSE trades on Thursday.

Even amid the dip in trading, investors saw profits in the power and energy and banking sectors as well.

Energypac, Takaful Insurance, and Prabhati Insurance closed the day with the highest gains.

On the other hand, Khan Brothers, Beach Hatchery, and Fareast Finance languished at the bottom with the biggest losses at the close.