While the stock market experienced a downward trend today (19 March), mutual funds emerged as a bright spot, attracting increased investor interest.
Out of 37 listed mutual funds, 25 posted gains, five declined, and seven remained unchanged.
According to the EBL Securities daily market review, the mutual fund sector delivered the highest return of 2.8% for investors on the day.
Leading the gainers’ chart were DBH First Mutual Fund and First Prime Finance Mutual Fund, both surging by 10% in their unit prices.
The strong performance of mutual funds highlights their growing appeal as a relatively stable investment option amid market uncertainty. This trend underscores investors’ preference for diversified and professionally managed portfolios, particularly during periods of market instability, according to market insiders.
In contrast, the broader market struggled.
The benchmark index DSEX of the Dhaka Stock Exchange (DSE) dropped by 2.93 points to close at 5,207, while the blue-chip index DS30 edged down by 0.66 points to settle at 1,881.
Among the traded issues today, 150 advanced, 186 declined, and 59 remained unchanged. Market turnover saw a slight increase of 7%, reaching Tk482.51 crore compared to Tk451 crore in the previous session.
EBL Securities noted in its commentary that the DSE witnessed another flat session, with investor participation split between buying and selling, reflecting an overall cautious sentiment.
However, certain bank stocks continued to draw investor attention due to expectations of upcoming corporate earnings and dividend declarations. Meanwhile, mutual funds dominated the top gainers’ list as investors sought quick gains in a volatile market.
On the sectoral front, the textile sector led the way, contributing 14.6% to the DSE’s total turnover, followed by banks at 12.8% and pharmaceuticals at 12.6%.
In terms of individual performance, Shinepukur Ceramics topped the turnover chart, followed by Intraco Refueling, Uttara Bank and Fu Wang Food.
Other sectors posting positive returns included ceramics and textiles, while general insurance, cement, and non-bank financial institutions exerted the most corrections.
Shinepukur Ceramics and S Alam Cold Rolled continued their rally despite both companies currently struggling to do business due to the ongoing turmoil with the banks.
On the day, Shinepukur Ceramic and S Alam Cold Rolled Steels both surged 9.78%.
On the flip side, Tallu Spinning was the worst performer, with its share price dropping 5.08%. Other top losers included Samata Leather, SEML FBSL Growth Fund and Sonargaon Textile.
The port city bourse, Chittagong Stock Exchange, also witnessed a flat session. The Selective Categories’ Index (CSCX) edged up by 0.1 points, while All Share Price Index (CASPI) dipped by 1.8 points, respectively.