DSE snaps five-day winning streak

Dhaka stocks slipped into the red on Monday, snapping a five-day winning streak, as risk-averse investors opted for quick-profit on selective issues amid ongoing virus fears.

Following the previous five days' upward trend, stocks opened on upbeat momentum and the key index of the prime bourse crossed the 4,100-mark in early session. But late hours profit booking sell pressure wiped out the early gains.

At the end of the session, DSEX, the key index of the Dhaka Stock Exchange, went down by 9.90 points or 0.24 per cent to settle at 4,089, after adding 118 points in the past five consecutive sessions.

However, the Chittagong Stock Exchange edged up with its All Shares Price Index (CASPI)-advancing 5.84 points to close at 11,606 and the Selective Categories Index - CSCX -gaining 4.18 points to finish at 7,033.

Of the issues traded, 43 gained, 66 declined and 92 remained unchanged on the CSE. The port city bourse traded 6.86 million shares and mutual fund units with turnover value of Tk 132 million.

Market analysts said cautious investors booked quick-profit on major sectors' issues, which saw substantial gain in the past five trading days, taking the market in downward trend.

The prime bourse witnessed a natural correction, as some investors intended to realise the profit generated from the previous five days' gain, said a leading broker.

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