Mutual funds bear brunt of today’s DSE correction
According to Dhaka Stock Exchange (DSE) data, 33 out of 34 listed mutual funds saw price erosion amid heavy sell-offs, wiping out recent gains across the sector.
A relentless wave of selling pressure swept through the stock market today (14 September), dragging down the market value of almost all listed mutual funds alongside broader equities.
According to Dhaka Stock Exchange (DSE) data, 33 out of 34 listed mutual funds saw price erosion amid heavy sell-offs, wiping out recent gains across the sector.
Mutual funds bore the brunt of the correction, losing an average of 3.5%, the steepest decline of any category traded on the DSE, according to data from EBL Securities.
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Meanwhile, four mutual funds featured among the top ten losers, led by CAPM BDBL Mutual Fund, which saw the steepest decline of 8.76% to close at Tk7.20.
However, the capital bourse witnessed another session of overwhelming selling pressure, with the benchmark index slipping below the 5,400 mark after three and half-months.
DSEX, the broad index of the DSE, lost 39.6 points to settle at 5,379 points. The market extended its volatile trading pattern while buyers and sellers remained active on both sides of the trading spectrum in the early hours.
However, the fragile recovery attempt quickly faded as renewed selling pressure emerged amid prolonged investor anxiety, the market data showed.
Of the 398 total traded stocks, 78% saw price falls amid persistent sell-offs, while 14% surged and 8% remained unchanged.
Furthermore, 85% of A category stocks and 85% of junk stocks declined in price, DSE data showed.
