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Dhaka stocks failed to get out of the negative territory, as late-session sale frenzy of cautious investors pulled the key index down on Monday.
Jittery investors kept booking short-term profits due to the prevalent volatility on the trading floor, creating uncertainty regarding the market momentum.
With Monday’s plunge, the premier bourse Dhaka Stock Exchange (DSE) settled lower for three trading sessions in a row.
The DSEX, the broad index of the DSE, declined 3.3 points to settle at 6,260 against 6,263 in the previous trading session.
Turnover, another crucial market indicator, rose by 2.7 per cent to Tk 653 crore against the tally of Tk 636 crore in the previous session.
The market managed to remain upbeat till mid-session yesterday following the chase for sector-specific issues by optimistic investors in anticipation of quick gains, but the morning optimism eroded owing to the subsequent dominant sale pressure by cautious investors, said EBL Securities, a stockbroker, in its daily market review.
The food and allied sector topped the turnover chart with a contribution of 14.0 per cent of the total turnover of the DSE, followed by general insurance (12.9 per cent) and IT (9.5 per cent).
Most sectors displayed dismal returns, with the jute facing the highest correction of 5.8 per cent, followed by travel (2.2 per cent) and IT (0.8 per cent).
On the other hand, the general insurance witnessed the highest gain of 3.7 per cent at the capital bourse.
Meghna Insurance Company Limited topped the DSE’s gainer chart with a return of 10 per cent, while Gemini Sea Food Ltd suffered the most with a loss of 7.5 per cent.
