Dhaka bourse edges down on corrections of major sectors

FE Report
The Dhaka bourse closed the Sunday's session marginally lower as most of the sectors experienced correction.
Only five sectors comprising small cap companies, including jute, saw price appreciations by 0.1 per cent to 2.7 per cent on the Dhaka Stock Exchange (DSE).
The market opened the day's session positively and the DSE broad index DSEX exhibited a flat movement until midsession. Later, the DSEX started declining. The trend continued until the end of the session.
Major sectors, such as travel & leisure, pharmaceuticals & chemicals, and engineering, experienced price erosions.
At the end of the session, the DSEX settled at 6,287 points, having slid 0.14 per cent or 9.44 points.
"Despite the market being afloat until mid-session, the subsequent dominant sell pressure from cautious investors wiped out all the early gains and led the market to negative territory again," said a market review of EBL Securities.
It also said the downward trend of the market persisted as the market outlook continued to dwindle investors' confidence.
Following the correction of some blue chip securities, the DS30 index also declined 0.20 per cent or 4.32 points to close at 2138.61 points.
Of the blue chip securities, ADN Telecom saw the highest correction of 4.26 per cent, followed by Bangladesh Shipping Corporation, The City Bank, Eastern Housing, Heidelberg Cement, LafargeHolcim Bangladesh, and Square Pharmaceuticals.
Of 355 issues traded, 75 advanced, 89 declined and 171 were unchanged on the premier bourse.
The DSE posted a turnover of Tk 4.25 billion, 12 per cent higher than the previous session.
Fu Wang Food was the most traded stock with a transaction volume of Tk 210 million, followed by Rupali Life Insurance and Sonali Paper & Board Mills.
Continental Insurance was the number one gainer with an appreciation of 9.55 per cent while Fu Wang Food was the worst loser with a correction of 9.87 per cent.
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