Stocks returned to the red on Tuesday, after one session-break, as most of the investors were selling spree on sector specific large-cap stocks.
Analysts said the market faced correction further as cautious the risk-averse investors continued their selling mood, while some adopted ‘wait-and-see’ approach amid ongoing bearish trend.
“Decline in turnover indicates that investors were staying on the sidelines and observing the market movement carefully,” said an analyst at a leading brokerage firm.
The market started with a positive note, crossing the 5600-mark within first 40 minutes of trading, but risk-averse investors spurred the selling spree which continued till end of the session, ultimately ended 24.60 points lower.
DSEX, the prime index of Dhaka Stock Exchange (DSE), finished at 5,571.52 points, losing 24.60 points or 0.44 per cent over the previous session.
The two other indices also ended closed lower. The DS30 index, comprising the blue-chips, fell 9.84 points or 0.48 per cent to finish at 2,056.18. The DSE Shariah Index (DSES) lost 4.46 points or 0.35 per cent to close at 1282.54.
Trading activities fell to Tk 7.05 billion, which was 7.23 per cent lower than the previous day’s Tk 7.60 billion.
The losers took a strong lead over the gainers as out of the 327 issues traded, 204 closed lower, 91 closed higher and 32 remained unchanged on the DSE trading floor.
LankaBangla Finance topped the DSE turnover with about 13.95 million shares of Tk 762 million changing hands, followed by BDCOM Online, City Bank, Shahjibazar Power and Regent Textile Mills.
ICB Employees Provident Fund Scheme One was the day’s highest gainer, posting a 10 per cent rise while IFIC Bank was the worst loser, plunging by 25.38 per cent following its price adjustment after record date.
The port city bourse, the Chittagong Stock Exchange (CSE), also finished lower with its Selective Categories Index - CSCX – losing 47.17 points to settle at 10,463.
Losers beat gainers as 136 issues closed lower, 72 closed higher and 32 remained unchanged on the CSE trading floor.
The port city bourse traded 16.04 million shares and mutual fund units worth Tk 449 million in turnover.