Stocks slipped into the red on Wednesday, snapping a four-day winning streak, as risk-averse investors opted for booking profit on quick-gaining issues.
DSEX, the key index of the Dhaka Stock Exchange (DSE), went down by 8.41 points or 0.17 per cent to settle at 4,919, after gaining 90 points in the past four straight sessions.
The DSE Shariah Index also saw a fractional loss of 0.70 point to close at 1,114. However, the DS30 index, comprising blue chips, advanced 4.05 points to finish at 1,706.
Market operators said the retail investors went on profit booking sell-offs on stocks which saw substantial gain in the past four sessions while institutional investors remained analysing the latest corporate declarations.
The cautious investors opted to liquidate their investment as many of them opted to cash out gains from recent price surge, said a merchant banker.
“Some investors are more interested to make profits in the form of cash rather than by shares,” he said.
However, a section of investors were active, particularly on stocks declaring satisfactory dividend and quarterly earnings, he added.
Turnover, a crucial indicator of the market, stood at Tk 8.20 billion, which was 3.14 per cent higher than the previous day’s turnover of Tk 7.95 billion.
Losers took a strong lead over the gainers, as out of 357 issues traded, 189 ended lower, 95 closed higher while 73 issues remained unchanged on the DSE trading floor.
A total number of 158,852 trades were executed in the day’s trading session with a trading volume of 273.74 million shares and mutual fund units.
The market capitalisation of DSE fell to Tk 3,949 billion on Wednesday, from Tk 3,950 billion in the previous day.
Beximco Pharma topped the turnover list with 6.14 million shares worth Tk 802 million changing hands, followed by Asia Pacific Insurance, Associated Oxygen, Peoples Insurance and Republic Insurance.
Eastern Insurance was the day’s best performer, posting a gain of 10 per cent while Zahintex Industries was the worst loser, losing 10 per cent.
The Chittagong Stock Exchange also edged lower with its All Shares Price Index (CASPI)—losing 11 points to close at 14,114 while the Selective Categories Index – CSCX shedding 5.0 points to close at 8,490.
Of the issues traded, 142 declined, 70 advanced and 46 issues remained unchanged on the CSE.
The port city bourse traded 13.91 million shares and mutual fund units with turnover value of Tk 429 million.
