Dhaka stocks declined for the third consecutive session on Sunday, the first trading session of the week, with decline in turnover as investors continued with profit booking ahead of Eid-ul-Azha and ongoing floods across the country.
The key index of Dhaka Stock Exchange, DSEX, finished at 5,819.27 points, shedding 0.71 per cent or 41.84 points after declining 60 points in last two trading sessions.
Stockbrokers said that although the market started positive on the first trading session of the week, it failed to sustain the vibe afterwards mainly due to investors’ profit booking share sales following the recent market surge.
Encashment of fund ahead of the Eid festival also prompted investors to book profit, they said.
Besides, ongoing floods in different parts of the country, especially in the northern districts, made investors a bit cautious on the trading floor as they were apprehending that businesses might face adverse impact of the floods, stockbrokers said.
These altogether impacted negatively over the market and resulted in subsequent fall in share prices in last couple of trading sessions, they said.
Of the traded scrips, banks and non-bank financial institutions sectors faced the major correction of the day with an average 2.30 per cent and 1.20 per cent decline respectively.
Besides, cement and energy sectors were on the chart with an average 0.6 per cent and 0.30 per cent decline respectively.
Turnover, a major indicator of investors’ participation on the trading floor, also declined to Tk 768.92 crore on Sunday from that of Tk 832.12 crore in the previous trading session.
Of the 330 companies and mutual funds traded, 92 advanced, 198 declined and 40 remained unchanged.
‘Index started the day with positive movement and remained positive for the first hour,’ said LankaBangla Securities in its market report.
‘After that, the index kept on going downward and closed red at 5,819.27 points level,’ it said.
‘Among the major sectors, only engineering, food and allied, and pharmaceuticals sectors registered 0.59 per cent, 0.22 per cent and 0.21 per cent gains respectively.
DSES, the Shariah index of the bourse, fell by 0.24 per cent or 3.13 points, to close at 1,301.04 points.
The blue-chip index of DSE, DS30, closed at 2,098.78 points, shedding 0.48 per cent or 10.31 points.
BBS Cables led the turnover chart on the day with its shares worth Tk 59.10 crore changing hands.
IFAD Autos, Active Fine Chemical Industries, ACME Laboratories, ACI Limited, City Bank, C&A Textiles, Ratanpur Steel Re-Rolling Mills, IFIC and LankaBangla Finance were other turnover leaders.
Monno Ceramic Industries gained the most, adding 9.82 per cent, while Pubali Bank was the worst loser, shedding 6.38 per cent.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Stocks