Stocks witnessed a mild correction on Thursday after choppy trading, as risk-averse investors booked some profit on sector-specific issues.
Market analysts said cautious investors booked quick gain on stocks which saw a sharp rise during recent rally while some investors took position on lucrative issues, pushing the market to the flat territory.
The market opened on a positive note and the key index crossed the 5,800-mark, gaining 30 points within the first hour of trading, but failed to sustain amid selling pressure.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,797, losing 1.28 points or 0.02 per cent.
According to the International Leasing Securities, stocks witnessed a mild correction after adding 144 points over the last two sessions as the investors booked quick profit.
The stockbroker noted that the session started on optimism but that trend did not sustain as the shaky investors went on a selling spree in bank, financial institution and engineering sectors.
The two other indices, however, closed green. The DS30 index, comprising blue chips, went up by 0.62 point to close at 2,011 and the DSE Shariah Index (DSES) advanced 2.67 points to close at 1,318.
Turnover, an important indicator of the market, fell to Tk 8.98 billion, which was 12 per cent lower than the previous day's Tk 10.25 billion.
The market closed flat amid correction in banking, financial institutions and engineering sectors, commented Sheltech Brokerage, in an analysis.
Accordingly, the banking sector saw the highest correction of 0.86 per cent, followed by financial institutions (0.60 per cent), engineering (0.56 per cent) and food (0.12 per cent).
Telecommunications posted the highest gain of 1.75 per cent, followed by power (0.44 per cent) and pharmaceuticals (0.28 per cent).
A total number of 199,354 trades were executed in the day's trading session with trading volume of 224.76 million shares and mutual fund units.
The market-cap of DSE stood at Tk 4,105 billion, up from Tk 4,098 billion the previous day.
The losers took a modest lead over the gainers, as out of 346 issues traded, 173 declined, 148 advanced and 25 issues remained unchanged on the DSE floor.
JMI Syringe & Medical Devices dominated the turnover chart, with 706,470 shares worth Tk 269 million changing hands, followed by BBS Cables, Olympic Industries, Shepherd Industries and Paramount Textile.
The low-cap companies continued to dominate the gainers chart, with Prime Life Insurance emerging as the day's best performer, posting a gain of 9.87 per cent while Peoples Leasing & Financial Services was the biggest loser, plunging by 4.48 per cent.
The port city bourse, Chittagong Stock Exchange (CSE), finished slightly lower, with the CSE All Share Price Index - CASPI - shedding 13 points to settle at 17,765 points and the Selective Categories Index - CSCX -losing 9.0 points to finish at 10,726.
The losers beat the gainers, as 140 issues closed lower, 107 ended higher and 17 remained unchanged.
The port city bourse traded 12.11 million shares and mutual fund units worth nearly Tk 330 million in turnover.
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