Stocks retreat amid persistent economic strain

Stocks ended lower on Thursday as many investors remained on the sidelines.
The DSE's prime index decreased by 53.05 points, closing at 5,219.74.
The blue-chip index DS30, comprising 30 leading companies, lost 21.29 points to 1,980.36, while the DSES Index, representing Shariah-compliant companies, witnessed an erosion of 5.88 points to 1,059.58 by the close.
BRAC Bank, City Bank, Square Pharmaceuticals, Pubali Bank, and LafargeHolcim Cement collectively dragged the index down by 19 points.
The capital market reversed course and slipped back into negative territory, undoing the previous session's recovery, as ongoing economic uncertainty and the continued Middle East crisis dampened investor confidence in the absence of any strong positive trigger, according to EBL Securities.
Turnover, a crucial indicator of the market, stood at Tk 6.26 billion, down 13 per cent from the previous trading day.
The market moved within a narrow range during the first half, but intensified selling pressure in the remaining half dragged most stocks into the red, said EBL Securities.
A majority of stocks saw price corrections, as out of the 394 issues traded, 65 closed higher, 306 ended lower, and 23 remained unchanged on the DSE trading floor.
Sector-wise, pharmaceuticals led trading activity with a 15.5 per cent share of total turnover, followed by textiles with 10.4 per cent and engineering with 10.3 per cent.
Nearly all sectors ended in the red, with mutual funds losing 3.3 per cent, cement 1.6 per cent, and banking 1.5 per cent. The IT sector was the lone gainer, rising by 2.1 per cent.
Khan Brothers PP Woven was the most-traded stock, with shares worth Tk 237.78 million changing hands, followed by Summit Alliance Port, ACME Pesticides, City Bank, and Orion Infusion.
The Chittagong Stock Exchange (CSE) also ended lower, with its All Share Price Index (CASPI) decreasing by 77.75 points to settle at 14,701 and the Selective Categories Index (CSCX) falling by 39.04 points to settle at 8,982.
The port city bourse traded 3.02 million shares and mutual fund units, with a turnover of Tk 90.72 million.

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