Stocks ended lower on Sunday, snapping a six-day gaining streak, as cautious investors opted for booking profit on quick-gaining issues amid growing tension over rising virus cases.
The market opened on an upward momentum but profit-taking tendency among the investors in the later part of the session took the market in the red trajectory.
DSEX, the prime index of Dhaka Stock Exchange (DSE), went down by 32.69 points or 0.46 per cent to settle at 7,073, after gaining over 109 points in the past six consecutive sessions.
Two other indices also edged lower. The DSE 30 Index, comprising blue chips, fell 5.93 points to finish at 2,629 and the Shariah Index (DSES) saw a fractional loss of 0.30 point to close at 1,508.
Turnover, a crucial indicator of the market, dropped further and amounted to Tk 14.82 billion, which was 7.43 per cent lower than the previous day's tally of Tk 16.01 billion.
The risk-averse investors booked profit on major sector stocks after a recent price surge, according to a merchant banker.
He noted that overall downward pressure intensified as the rising virus cases and death further hit investors' confidence.
Top negative index contributors were Walton, Robi, LafargeHolcim, Square Pharma and Beximco, jointly accounting for 31 points fall to the DSEX, according to amarstock.com, a market data analyst.
Some optimistic investors, however, continued their buying binge on some large-cap stocks such as BATBC, Grameenphone, Bangladesh Submarine Cable, Renata and Beacon Pharma.
The moderate correction was aggravated as the market had remained bullish for the last few weeks, according to EBL Securities.
The investors' sell-off was observed across the major sectors as the fear of lockdown is looming amid rising numbers of the coronavirus cases and death, commented International Leasing Securities.
Major sectors faced correction with cement seeing the highest loss of 2.10 per cent, followed by engineering with 1.20 per cent, banking 0.80 per cent, financial institutions 0.30 per cent, power 0.30 per cent and pharma 0.10 per cent.
On the other hand, food sector posted highest gain of 2.10 per cent backed by the sector heavyweight BATBC, followed by general insurance (2.10 per cent), and telecom (0.10 per cent).
Losers took a strong lead over the gainers, as out of 378 issues traded, 248 declined, 102 advanced and 28 issues remained unchanged on the DSE floor.
Beximco, which lost 1.37 per cent, was the most traded stock with shares worth Tk 1.56 billion changing hands, followed by Bangladesh Shipping Corporation (Tk 643 million), Power Grid Company (Tk 560 million), Asia Insurance (Tk 372 million) and Apex Footwear (Tk 361 million).
Newly listed Union Insurance was the day's top gainer, posting a 10 per cent gain while the state-run Padma Oil Company was the worst loser, losing 6.59 per cent.
The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index - CASPI -shedding 115 points to settle at 20,702 and the Selective Categories Index - CSCX-losing 68 points to close at 12,436.
Of the issues traded, 199 declined, 75 advanced and 30 remained unchanged on the CSE.
The port-city bourse traded 12.57 million shares and mutual fund units with a turnover value of Tk 388 million.
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