Dhaka stock market dips after election-driven rally loses steam
Dhaka stocks fell slightly on Monday after a strong rally the day before. The drop followed a landslide election win by the Bangladesh Nationalist Party, which had initially boosted market confidence. Investors took profits after the previous day's surge, leading to a modest decline in the stock market today.
The DSEX, Dhaka Stock Exchange's main index, closed at 5,589 points on Monday—a fall of 0.19% or 11 points. This came after a sharp rise the previous day, driven by reduced political uncertainty after the election results. More stocks ended in the red, with 218 companies recording losses compared to 153 gainers, while 26 remained unchanged.
Trading activity slowed slightly, with turnover dipping to Tk 1,257 crore from Tk 1,275 crore the day before. The exchange also announced adjusted trading hours for Ramadan, running from 10:00am to 1:40pm, followed by a post-closing session until 1:50pm.
Analysts noted that the market's brief rally lost momentum as investors locked in gains. The broader sentiment, however, remained cautiously optimistic after the election outcome eased concerns about instability in the stock market.
The Dhaka Stock Exchange saw a minor pullback after its recent gains. Trading volumes fell, and more shares declined than rose. With revised Ramadan hours now in place, market participants will watch for further shifts in investor behaviour in the stock market today.
