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Dhaka stocks declined for the second consecutive session amid volatility on Monday, as the negative sentiment continued ahead of year-end adjustment.
The market was in the positive territory briefly in the morning but remained in the negative territory throughout the rest of the session before attempting to recover several times.
The benchmark DSEX index sagged 46 points or 0.68 per cent to settle at 6,736, hitting a high of 6,794 and a low of 6,716. The Shariah-based DSES index dropped 10 points or 0.73 per cent at 1,432 while the blue-chip comprising DS30 index was down 19 points 0.74 per cent at 2,528.
Dhaka bourse continued the downward momentum and the equity indices ended in the red trajectory as investors sell pressure was predominant on the bourse, said the EBL Securities in a note.
The market observed sluggish trading activities as most of the investors remained on the sidelines ahead of December-end adjustments, it said.
Turnover inched up by 2.66 per cent to Tk 8,07 crore as against Tk 786 crore in the previous session.
Out of the 374 issues traded, 100 advanced, 241 declined, and 33 remained unchanged.
The low-cap IT sector led by Genex Infosays faced heavy selling pressure, followed by services, energy, telecommunications, food and allied, travel, cement, NBFIs and bank.
The worst losers included Khan Brothers PP Woven Bag Industries, Khulna Power Company, Beach Hatcheries, Savar Refractories, Fine Foods and Active Fine Chemicals.
However, the insurance sector continued to flex its muscle led by Asia Insurance, Pragati Life Insurance, Bangladesh National Insurance Company, and Agrani Insurance.
Beximco Ltd was the most traded stock with shares worth almost Tk 128 crore, accounting for more than 15 per cent of the total turnover. It was followed by Genex Infosays, One Bank, Asia Insurance, Sena Kalyan Insurance Company, IFIC Bank, Fortune Shoes, and GSP Finance.
The port city bourse, CSE, also settled in red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) declined by 84.0 points and 142.2 points respectively.
