Stocks ended lower for the second consecutive session Monday with sluggish turnover as investors continued on profit booking.
The market opened with an uptrend but could not sustain the momentum during the second half of the session. DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,608.95 points, shedding 32.49 points or 0.70 per cent from previous session.
The other two indices also closed in the red. The DS30, comprising blue chips lost 9.91 points or 0.56 per cent to close at 1,738.32 points. The DSE Shariah Index went down by 4.92 points or 0.45 per cent to close at 1,075.96 points.
The total turnover on DSE dropped further and amounted to Tk 5.02 billion, which was 3.2 per cent lower over the previous session's value of Tk 5.19 billion.
The investors' activity was mostly concentrated on engineering, pharmaceuticals and textile - the sectors that accounted for 22 per cent, 14 per cent and 13 per cent respectively of the day's total turnover.
"The market endured a typical bearish session amidst the investors' profit booking attitude coupled with cautiousness as they are waiting for new investments opportunities," commented International Leasing Securities.
The investors' attention was captured by a few industry leading stocks from various sectors. The investors also responded positively to the interim declaration of 160 per cent cash from Singer BD as the stock registered a staggering of 17.9 per cent gains, said the International Leasing.
IDLC Investments said: "Downturn continued in the market amid slowing turnover and profit booking for the second consecutive session of the week".
Out of 298 traded stocks 46 fell more than 3.0 per cent whereas only 15 posted above the same level, said the merchant bank.
"The market extended losses for the second day of the week, getting no support from any particular sectors," said Zenith Investments.
Even last day's banks and financial institutions turned their backs to the market creating extra force for the index to gravitate, said the Zenith Investments.
"It is normal for the index to turn around and 'go slow' when it came close to 4,700 points, as investors becomes highly sensitive whenever the index comes near to any round figure," the Zenith analysis added.
The multinational companies dominated the gainers' chart. Among the top ten gainers, five emerged from multinational companies.
Among the large sectors, food and pharmaceuticals posted gains of 1.20 per cent and 0.61 per cent respectively. Banks lost 1.01 per cent.
Telecommunication and fuel and power went down by 0.16 per cent and 0.64 per cent respectively. NBFIs closed flat with no significant movement.
The losers took a strong lead over the gainers as out of 298 issues traded, 202 declined, 71 advanced and 25 remained unchanged on the DSE floor.
Activities decreased in the major bourse (DSE) where trade and volume were down by 7.60 per cent and 8.07 per cent respectively. A total of 0.121 million trades were executed with 118.07 million securities of trading volume.
The total market capitalisation of the DSE stood at Tk 3,107.83 billion against Tk 3,113.37 billion in the previous session.
Singer Bangladesh was the most traded stocks with shares worth Tk 391.58 million changing hands followed by newly listed Shurwid Industries, ACI, Beximco and MJL BD.
Shurwid Industries, which made debut Monday, was the day's highest gainer, posting a rise of 382 per cent while Imam Button was the day's worst loser, slumping by 7.40 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index - CSCX - lost 62.43 points to close at 8,675.23 points.
Losers beat gainers 170 to 36, with 21 issues remaining unchanged at the port city bourse that traded 11.15 million shares and mutual fund units, turnover value of Tk 422.88 million.
