The stock market witnessed mild correction Sunday, breaking eight sessions' gaining streak as investors booked profit amid ongoing political unrest in the country.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down marginally by 10.54 points or 0.21 per cent to close at 4,841.17 points, after gaining 223 points in the last eight consecutive sessions.
The two other indices also ended in red. The DS30 index, comprising blue chips lost 7.45 points or 0.41 per cent to close at 1,804.89 points. The DSE Shariah Index (DSES) shed 2.85 points or 0.24 per cent to close at 1,147.12 points.
Trading at DSE remained sluggish amid political uncertainty. The total turnover came down to Tk 2.64 billion, registering a decline of 18.76 per cent over the over the previous session's value of Tk 3.25 billion.
The investors' attention was mostly focused on engineering, power and textile - the sectors that accounted for 13.5 per cent, 12.4 per cent and 11.6 per cent respectively of the day's total turnover.
IDLC Investments said: "Breaking last eight sessions' gaining trend, profit booking in some mid-cap stocks pushed the market in red".
However, investors preferred micro-cap stocks to grab return from daily volatility, said the merchant bank.
"Overall, investors remain concerned over country's macro-economic landscape, degrading day by day over ongoing political unrest," the merchant bank added.
LankaBangla Securities said: "Market lost some zeal as bull had a pause for breath after rallying in last eight trading sessions".
"Persistent concern about the loss in business due to political unrest and economic outlook might have prevented stocks from rallying further Sunday," said the stock broker.
However, the day's loss can be attributed to profit booking by investors, the stock broker added.
"The market took a break after soaring up for the eight consecutive sessions. Lack of investors' enthusiasm amid shrugging of political strife caused the index to end marginally lower," said International Leasing Securities.
"Turnover also plunged as pessimistic sentiment regarding market sustained amid instable market outlook," it said.
"Price fall of large-cap like telecommunication, banks and pharmaceuticals contributed to the indices fall," said the International Leasing.
Among the major sectors, cement gained 0.30 per cent. Power closed flat with no significant movement.
The other large-cap sectors ended in red. Banks and NBFIs closed lower by 0.27 per cent and 0.62 per cent respectively. Pharmaceuticals, telecommunication and food and allied also edged down by 0.33 per cent, 0.25 per cent and 0.10 per cent respectively.
The gainers took a modest lead over the losers out of 310 issues traded, 139 advanced, 131 declined and 40 remained unchanged on the DSE floor.
Activities decreased in the major bourse where volume and trade were down by 14.58 per cent and 18.59 per cent respectively. A total number of 0.082 million trades were executed with trading volume of 76.94 million securities.
The market capitalisation on DSE stood at Tk 3.245.59 billion against Tk 3,248.28 billion in the previous session.
Beximco was the most traded stock with shares worth Tk 112.45 million changing hands followed by IFAD Autos, CVO Petrochemical, GP and Agni Systems.
National Feed Mills was the day's top gainer, posting a rise of 10.14 per cent while NCC Bank First Mutual Fund was the day's worst loser, plunging by 5.76 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also edged in the red with its Selective Categories Index - CSCX - lost 12.11 points to close at 8,967.05 points.
Losers beat gainers 115 to 104, with 24 issues remaining unchanged at the port city bourse that traded 9.03 million shares and mutual fund units, turnover value of Tk 263.37 million.
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