Dhaka bourse ticked lower on Tuesday with a marginal loss both in broad index and turnover value extending losing streak for second consecutive session as major sectors saw minor price correction.
Insiders said the market saw volatility as many investors offloaded their shares and rebalanced their portfolios to book profits.
Most of the major sectors, other than general insurance, declined on Dhaka Stock Exchange (DSE).
The market opened the day's session with a negative note and the DSE broad index DSEX declined 32 points within an hour.
After the midsession, the market saw a recovery stance but it lost the momentum during last hour.
At the end of the session, the DSEX settled at 6468.60 with a loss of 0.31 per cent or 20.56 points.
The shariah based index DSES declined 0.42 per cent or 6.06 points to close at 1410.89.
DS30 index comprising blue chip securities closed at 2350.76 with a loss of 0.44 per cent or 10.57 points.
Of 380 issues traded on Tuesday, 114 advanced, 228 declined and 38 were unchanged on the premier bourse DSE.
"Dhaka stocks tumbled as investors went for sell-offs since rise in share prices in the previous seven days prompted some investors to take profits," said a market review of EBL Securities.
It said insurance sector dominated the trading board since investors concentrated their interest on sectoral issues.
The DSE on Tuesday posted a turnover of Tk 7.39 billion which was 24.04 per cent less than the turnover of the previous session.
Of total turnover, Tk 477 million came from transactions executed in block board of the premier bourse.
"Stocks extended its losing streak for the second straight session amid low turnover as many investors rebalanced their portfolios," said a market review of International Leasing Securities.
Of the sectors which saw price appreciation, general insurance and mutual fund advanced 3.6 per cent and 0.5 per cent respectively.
Of the sectors which witnessed price correction, engineering declined 0.5 per cent, financial institutions 0.7 per cent, fuel & power 0.3 per cent, pharmaceuticals & chemicals 0.4 per cent, telecommunication 0.5 per cent and textile 0.8 per cent.
Investors' participation was concentrated mostly on general insurance sector which grabbed 17.60 per cent of market turnover followed by pharmaceuticals & chemicals 11.90 per cent, bank 10.60 per cent, engineering 9.1 per cent, and textile 7.90 per cent.
Of the large cap companies which saw price appreciation, the share price of United Power Generation & Distribution Company and Square Pharmaceuticals advanced 0.12 per cent and 0.14 per cent respectively.
Of the companies which witnessed price correction, the share price of Walton Hi-Tech Industries declined 0.45 per cent, Grameenphone 0.39 per cent, Beximco 1.04 per cent, British American Tobacco Bangladesh Company 1.54 per cent, and Renata 0.50 per cent.
Beximco topped the scrip wise turnover chart with a value of Tk 252 million followed by Salvo Chemicals Tk 251 million, Pravati Insurance Company Tk 237 million, Orion Pharma Tk 14 million and Bangladesh Shipping Corporation Tk 138 million.
Insurers dominated the chart of top 10 gainers and Pioneer Insurance Company was the number one gainer with a rise of 9.91 per cent or Tk 8.50 to close at Tk 94.30 each.
Gemini Sea Food was the worst loser after declining 2.0 per cent or Tk 7.20 to close at Tk 353.40 each.
CASPI, benchmark index of Chittagong Stock Exchange (CSE), declined 0.32 per cent or 61.07 points to close at 18958.76 on Tuesday.
Of 308 issues traded, 81 advanced, 199 declined and 28 were unchanged and the port city bourse CSE posted a turnover of Tk 350.88 million.
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