Stocks extended losing streak for the fourth running session Wednesday with participation remained sluggish as investors continued to book profit in bank and multinational stocks.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE) ended at 4,457.49 points, shedding 39.62 points or 0.88 per cent from previous session.
The other two indices also ended lower. The DS30, comprising blue chips lost 15.29 points or 0.93 per cent to close at 1,622.58 points. The DSES dropped 8.02 points or 0.79 per cent to close at 996.71 points.
Amid the shaky confidence, participation remained sluggish, keeping turnover below Tk 4.0 billion level for fourth consecutive session. The total turnover stood at Tk 3.78 billion, registering a decline of 4.20 per cent over the previous session's value of Tk 3.94 billion.
"Market extended losses on further profit booking in bank and multinational stocks," said LankaBangla Securities, in its regular market analysis.
Overall market was under pressure amid negative market breadth while market turnover was down by 4.20 per cent compared to last trading session, said the stock broker.
"The market continued its losing streak amidst sluggish participation. Mixed quarterly earnings declaration of several companies made the investors to reorganise their portfolio," commented International Leasing Securities.
Although performance of major sectors were by and large, poor yet the investors were rewarded by some particular stocks like Prime Bank, Bank Asia, Eastern Bank, and Argon Denims which reported good earnings, said the International Leasing Securities.
The investors' attention was primarily focused on textile and pharmaceuticals sectors, accounting for 19.36 per cent and 16 per cent of the day's total turnover.
The losers took a modest lead over the gainers as out of 288 issues traded, 160 declined, 104 advanced and 24 issues closed unchanged on the DSE floor.
All the major sectors closed in red. NBFIs and telecommunications lost the most with losing 1.79 per cent and 1.20 per cent respectively.
They were followed by pharmaceuticals and food & allied which went down by 1.02 per cent and 0.67 per cent. Banks and fuel & power closed 0.57 per cent and 0.34 per cent lower.
Tannery and ceramic stocks lost the most among sectoral return, losing over 2.5 per cent and 2.2 per cent respectively while general insurance and service sector continued to gained with market capitalization up by 0.4 per cent and 1.1 per cent respectively.
Activities mixed in the major bourse (DSE) where volume was up 2.40 per cent, but trade was down 13.48 per cent. A total of 0.094 million trades were executed in day's trading session with 95.44 million securities of trading volume.
The total market capitalisation on the DSE stood at Tk 2,899.77 billion against Tk 2,918.03 billion in the previous trading session.
Hwa Well Textiles which made debut Wednesday became the top turnover leader with shares worth Tk 298.99 million changing hands followed by GP, BSCCL, Square Pharma and Matin Spinning.
Hwa Well Textiles was also the day's highest gainer; posting a rise of 341 per cent per cent while Renata was the day's worst losers, slumping by 19.95 per cent following its price adjustment after record date.
Another newcomer Wata Chemicals - previously trading in the OTC market - also commenced trading at DSE, but did not traded on the day as investors reluctant to buy or sell its shares.
The port city bourse -- Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index -- CSCX lost 80.77 points to stand at 8,569.35 points.
Losers beat gainers 135 to 56, with 22 issues remaining unchanged at the port city bourse that traded 10.24 million shares and mutual fund units, turnover value of Tk 355.96 million.
