Broad index of Dhaka bourse saw a moderate loss on Wednesday extending the losing streak for third consecutive session as investors continued selling pressure on large cap sectors.
On the day, major sectors of listed securities lost prices and turnover value rose marginally on Dhaka Stock Exchange (DSE).
The market opened the day's session positively but the DSE broad index DSEX lost some points within first hour.
Later, a recovery stance was observed and it also faded away gradually and a declining trend continued till closure.
At the end of the session, the DSEX settled at 7248.44 points with a loss of 0.89 per cent or 65.54 points.
According to a market review of International Leasing Securities, Dhaka bourse witnessed a sharp loss as investors continued profit booking sell offs over the last few sessions price upsurge.
"After the last two session's correction, the market opened lower and investors' sell-offs continued in the major sectors which led the benchmark index to loss 66 points," the review said.
It also said optimistic investors, however, opted for general insurance, life insurance, IT and food sectors.
On Wednesday, shariah based index DSES declined 1.53 per cent or 24.44 points to close at 1566.60.
DS30 index comprising blue chip securities went down by 1.17 per cent or 32.31 points to close at 2717.56.
According to another market review of EBL Securities, Dhaka stocks observed a plunge amidst relentless selling pressure which adversely impacted the equity indices to set in red trajectory for the third consecutive day.
"Despite higher-earning disclosures, the stocks are experiencing corrections as investors trimmed their position in recent outperformers and favoured selling shares that have reached their peak," the review said.
Of total issues traded, 106 advanced, 241 declined and 29 were unchanged on the premier bourse DSE on Wednesday.
The DSE posted a turnover of Tk 19.52 billion which was 4.78 per cent higher than the turnover of the previous session.
Of major sectors which saw price correction, engineering declined 1.6 per cent, financial institutions 2.2 per cent, fuel & power 1.5 per cent, pharmaceuticals & chemicals 1.4 per cent, textile 2.1 per cent and telecommunication 0.6 per cent.
Of the sectors which witnessed price appreciation, general insurance advanced 3.4 per cent, life insurance 1.6 per cent, food & allied 1.1 per cent, and IT 1.1 per cent.
Investors concentrated mostly on pharmaceuticals & chemicals sector which grabbed 12.4 per cent of market turnover followed by tannery 10.8 per cent, bank 10.2 per cent, and textile 9.6 per cent.
Fortune Shoes topped the scrip wise turnover chart with a value of Tk 1.82 billion followed by LafargeHolcim Bangladesh Tk 1.03 billion, IFIC Bank Tk 925 million, Orion Pharma Tk 902 million and Beximco Tk 653 million.
NCC Bank was the number one gainer with a rise of 9.96 per cent to close at Tk 29.80 each.
Far East Knitting & Dyeing Industries saw the highest price correction of 7.39 per cent to close at Tk 21.30 each. CASPI, benchmark index of Chittagong Stock Exchange (CSE), declined 0.82 per cent or 176.95 points to close at 21183.88.
Of 315 issues traded, 89 advanced, 203 declined and 23 were unchanged and the port-city bourse featured a turnover of Tk 615.05 million on Wednesday.
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