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Dhaka stocks closed in the red territory in the week’s first trading session on Sunday owing to the selling pressures from cautious investors as they opted for profit booking in face of an unclear market momentum.
Majority of investors remained jittery almost throughout the day, which pulled down the indices of the prime bourse Dhaka Stock Exchange (DSE), as per stockbrokers.
The DSEX, the benchmark index of the DSE, dropped 12.9 points to settle at 6,207 against 6,220 in the previous trading session.
Meanwhile, the premier bourse witnessed a decrease in participation, with the DSE turnover falling by 6.6 per cent to Tk 452 crore against Tk 483 crore in the previous session.
The market maintained a downbeat vibe throughout the session as sellers reined the trading floor, which led majority of scrips to face corrections, said EBL Securities, a stockbroker, in its daily market review.
The prolonged volatile market trend induced investors to prefer short-term profit booking than taking long-term positions in equities, it added.
The pharma sector topped the turnover chart with a contribution of 19.9 per cent to the total turnover of the DSE, followed by life insurance (15.0 per cent) and IT (13.1 per cent).
Almost all sectors displayed dismal returns on the DSE trading floor, with the IT facing the highest correction of 3.5 per cent, followed by services (1.6 per cent) and life insurance (1.3 per cent).
On the other hand, the food posted a slight gain of 0.3 per cent, followed by travel (0.3 per cent) and bank (0.1 per cent).
Rangpur Dairy & Food Products Ltd topped the gainer list with a return of 4.2 per cent, while Bengal Windsor Thermoplastics Ltd faced the highest correction of 9.9 per cent.
Out of the securities traded, 19 stocks advanced, 85 issues declined and 287 scrips did not see any movement on the DSE trading floor.
The port city bourse, CSE, also settled on red terrain, with its two major indices – the selected indices (CSCX), and the all-share price index (CASPI) – declined by 16.8 points and 28.9 points respectively.
