Stocks closed lower Monday as investors were engaged in sell-offs for profit-taking, reports bdnews24.com.
A selling spree led the indices on the Dhaka Stock Exchange to finish lower after gaining for the last three trading days.
The benchmark DGEN or general index opened the day with a fall. It, however, recovered losses and maintained a stable curve in the midday before diving again afterwards. It lost 31.26 points or 1.08 per cent to end on 2853.83.
The DSI or all-share price index finished 25.17 points or 1 per cent lower at 2473.51. The blue-chip DSE-20 closed at 2653.08, falling 13.67 points or 0.51 per cent.
Indices on Chittagong Stock Exchange also closed lower for a second day due to losses in shares of banks, non-bank financial institutions and leather industries.
The CSCX or selective categories index fell 55.31 points or 0.97 per cent to close at 5613.42. The CASPI or all-share price index closed at 8683.68, slumping 113.26 points or 1.28 per cent.
The bourse's blue-chip CSE-30 lost 60.42 points, or 0.76 per cent, to end at 7788.05.
An official with the brokerage house Lanka Bangla Securities said investors went for selling Monday to reap the benefits out of the last couple of days' gains.
"As the market came out from the bearish trend over the last three days, the investors started to sell today to gain profit."
Turnover of the DSE reached Tk 3.34 billion, with 21,631,929 shares changing hands, down from Tk 3.70 billion of the previous day.
Decliners outshined advancers 149 to 77, with fourteen issues holding steady.
Turnover from 4,692,754 traded shares on the port city bourse slumped to Tk 434.38 million from Sunday's Tk 547.02 million.
Of the traded 145 issues, 96 lost, 41 gained and eight remained unchanged.
Market watchers said the fall was pretty much anticipated.
"The sell-off was imminent as prices rose for the last three days in the wake of a bearish trend," a top official of a brokerage firm said.
Investors made the move to reap some quick benefits, said the official asking not to be named.
Beximco Pharma topped the turnover board, closing 3.29 percent higher at Tk 116.10 following Sunday's losses.
