Stocks witnessed a marginal correction on Tuesday, snapping a four-day winning streak, thanks to the profit booking tendency of some investors on quick-gaining stocks.
DSEX, the key index of the Dhaka Stock Exchange (DSE), went down by 23.95 points or 0.46 per cent to settle at 5,123, after gaining nearly 98 points in the past four straight sessions.
Two other indices also edged lower. The DS30 index, comprising blue chips, lost 7.16 points to finish at 1,806 and the DSE Shariah Index fell 6.97 points to close at 1,185.
Market analysts said many investors tried to book profits as stocks of many companies have seen a rise by 10-15 per cent in the last four trading days.
The investors booked quick-profit on sector-specific issues, which saw a substantial gain in the past few trading sessions, taking the market in the red zone, said a merchant banker.
He noted that stocks saw a natural correction, as some investors intended to realise the profit generated from the previous four days’ gain.
Turnover, a crucial indicator of the market, remained almost the same and amounted to Tk 9.72 billion which was Tk 9.79 billion in the previous day.
Top negative index contributors of the market were Marico, Renata, Beximco Pharma, Brac Bank and Square Pharma, according to data from amarstock.com, a stock market data analyst.
Losers took a modest lead over the gainers, as out of 356 issues traded, 159 ended lower, 125 higher and 72 issues remained unchanged on the DSE trading floor.
A total number of 187,418 trades were executed in the day’s trading session with a trading volume of 356.99 million shares and mutual fund units.
The DSE market–cap rose to Tk 4,180 billion on Tuesday, from Tk 4,168 billion in the previous day.
Beximco Pharma topped the turnover chart with 4.59 million shares worth Tk 731 million changing hands, followed by Beximco, Bangladesh National Insurance, Rupali Insurance and Bangladesh Submarine Cable.
CAPM IBBL Islamic Mutual Fund was the day’s best performer, posting a 10 per cent gain while Tung Hai Knitting was the worst loser, losing 5.71 per cent.
The Chittagong Stock Exchange (CSE) also ended lower with its All Shares Price Index (CASPI)—losing 62 points to close at 14,723 while the Selective Categories Index – CSCX shedding 36 points to close at 8,869.
Of the issues traded, 125 declined, 98 advanced and 56 remained unchanged on the CSE.
The port city bourse traded 15.11 million shares and mutual fund units with a turnover value of nearly Tk 444 million.
