Stocks retreat as late selling wipes out early gains

 
The country's stock market ended lower on Wednesday as strong selling pressure in the final trading hour erased early gains amid persistent policy uncertainties and renewed tensions in the Middle East, dampening investor sentiment.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) fell 27.9 points to close at 5,871, down from the previous session's 5,899.
The market opened on a positive note, with the DSEX briefly reclaiming the 5,900-point level during mid-session, according to BSS report. 

However, broad-based selling across most sectors in the final hour reversed the upward momentum, dragging the benchmark into negative territory by the close. 

Despite the decline, market turnover rose 7.2 per cent to Taka 12.1 billion from Taka 11.2 billion in the previous session, indicating sustained trading activity.

Textile stocks accounted for the largest share of turnover at 16.6 percent, followed by pharmaceuticals (14.3 percent) and mutual funds (8.0 percent).

Out of the 396 issues traded on the DSE, 98 advanced, 243 declined and 55 remained unchanged.

The Chittagong Stock Exchange (CSE) also closed lower, with the CSCX index falling 19.1 points and the CASPI index losing 20.1 points.