Stocks plunge amid heavy selling pressure

 
The country’s capital market came under heavy selling pressure on Sunday, reversing the brief recovery seen in the previous trading session.

Concerns over a possible downturn in corporate earnings amid persistent domestic headwinds weighed on investor sentiment.

The broad index of the Dhaka Stock Exchange (DSE), DSEX, plunged 41.4 points to settle at 5,614 points today, down from 5,656 points in the previous session.
The market remained on a downward trajectory from the beginning of the session, according to BSS report. 

 Although the index made a brief recovery attempt in the middle of the session, widespread risk aversion and renewed selling pressure in the final hours pushed it further into negative territory.

Despite the sharp fall in the index, turnover increased by 10.9 percent to Tk 5.2 billion from Tk 4.7 billion in the previous session.

Textile stocks accounted for the highest share of the day's turnover at 31.0 percent, followed by General Insurance at 10.0 percent and Bank at 9.5 percent.

The port city bourse, Chattogram Stock Exchange (CSE), also closed in negative territory. Its Selective Categories' Index (CSCX) fell 55.6 points, while the All Share Price Index (CASPI) declined by 75.3 points.