DSE turnover dips below Tk 4.0b-mark again

The market slipped for the second running session Sunday with turnover dipping below Tk 4.0 billion-mark again as investors' profit booking continued amid cautious stance.
The market opened with a positive mood, but could not sustain. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,930.37 points, shedding 31.47 points or 0.63 per cent.
The other two indices saw sharp decline. The DS30, comprising blue chips lost 21.31 points or 1.15 per cent to close at 1,822.37 points. The DSE Shariah Index dropped 9.56 points or 0.82 per cent to close at 1,151.86 points.
Investor participation fell sharply and the total turnover came down to Tk 3.83 billion, which was 25.34 per cent lower over the previous session's value of the Tk 5.13 billion.
The investors' attention was mostly concentrated on textile, pharma and power - the sectors that accounted for 17.53 per cent, 16.77 per cent and 11.36 per cent of the day's total turnover respectively.
"The stock market prolonged its negative stance from last week's trading amidst the investors' profit booking attitude," said International Leasing Securities, in its market analysis.
The investors seemed uncertain regarding the market's behaviour as daily turnover fell sharply from previous trading session and dipped below Tk 4.0 billion, said the International Leasing.
Meanwhile, several issues from 'Z' category witnessed considerable price-hike amidst some of the investors' anticipation of extraordinary corporate declarations in upcoming year-end, said the International Leasing.
LankaBangla Secrities said: "The market opened the week snapping some gain in last week amid lower participation among the investors".
Mostly textile and financial stocks were in focus, where textile gained 2.2 per cent and NBFIs gained 0.58 per cent. Baking stocks were in buying radar in early session; however it ended almost flat with 0.5 per cent loss. Manufacturing stocks went for correction after last week's gain.
"The bourse is still going through correction mood," said IDLC Investments in an analysis.
However, some positive news related to textile sector, like robust export target of garment products and re-branding of Bangladesh put an upbeat vibe with six stocks from the textile sector appeared at top ten gainers' list, it said.
Accordingly, the sector led the performance as well as turnover chart, gaining 1.9 per cent and capturing 17.5 per cent day's total trade value.
"Following the recent 3-day rally where the benchmark index gained around 222 points, the market observed correction back-to-back sessions," said BRAC EPL, a Brokerage.
All the major sectors ended lower except NBFIs, which advancing 0.58 per cent. Pharmaceuticals and power lost 0.99 per cent and 0.86 per cent respectively. Telecommunication, banks and food and allied sectors also lost 0.65 per cent, 0.54 per cent and 0.02 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index - CSCX - lost 48.54 points to close at 9,261.72 points.
Losers beat gainers 103 to 88, with 32 issues remaining unchanged at the port city bourse that traded 18.38 million shares and mutual fund units, turnover value of Tk 441.84 million.
babulfexpress@gmail.com