Stocks posted marginal fall Wednesday on profit booking after remaining positive in the previous four trading sessions.
The market opened on a note of buoyancy in the morning but this early enthusiasm evaporated by mid-day, as sellers took control of the movement of most shares.
At the end of the four-hour trading, the benchmark index of the Dhaka Stock Exchange - DSEX - dipped below the 4,800-mark after a-day and settled at 4,796.81, shedding 4.99 points or 0.10 per cent.
The two other indices also closed in the red. The DS30 index, comprising blue chips, lost 1.42 points or 0.07 per cent to finish at 1,836.24. The DSE Shariah Index (DSES) dropped 0.49 points or 0.04 per cent to end at 1,179.92.
Activities increased on the major bourse where turnover, trade and volume went up by 1.67 per cent, 0.59 per cent and 11.24 per cent respectively.
A total of 0.101 million trades were executed in the day's trading session, generating a turnover of Tk 4.27 billion with 125.91 million securities trading.
The market capitalisation of the DSE stood at Tk 3,352.17 billion against Tk 3,358.46 billion in the previous session.
Turnover, however, improved to Tk 4.27 billion, which was 1.67 per cent higher than the previous session's Tk 4.20 billion.
The participants remained mostly focused on engineering, pharma and power - the sectors that accounted for 23 per cent, 13 per cent and 11 per cent of the day's total turnover.
"Buying of shares in bank and engineering sectors sustained, but profit booking on cement, pharmaceuticals and telecommunication sectors contributed to the marginal fall in indices," said International Leasing Securities, a stockbroker.
Lankabangla Securities, a stockbroker, said, "The early weakness was due to profit taking, with traders cashing in on stocks ahead of vacation for Eid-ul-Azha".
The stockbroker noted that although investors seemed reluctant to make significant move, they are watching first quarter economic data for FY'15.
Among the major news on equity market, some Tk 5.18 billion has been disbursed so far under the capital market re-financing scheme, initiated by the government to help affected investors of 2010-11 stock market debacle. As per the scheme guideline, the central bank earlier disbursed Tk 9.0 billion to ICB in three equal installments, said the stockbroker, quoting newspaper.
IDLC Investments, a merchant bank, said, "Market again failed to hold ground after reaching 4,800 points level in a four day's gaining streak, reflecting investors' lack of any serious conviction on the overall market".
"Most of the issues that brought market up in recent days faced correction, which might be a part of consolidation, due to some investors' liquidation ahead of Eid-ul-Azha," said the merchant bank.
MTB Capital Ltd, a merchant bank, said, "Market opened with a positive note and tried-to keep it positive trend, but late hour sale pressure grounded it to the red zone".
"Initial buoyancy created vibration in the market but sale pressure ahead of Eid festival faded away that and market observed see-saw for quite long in the trading session," said the merchant bank.
Most of the major sectors failed to perform well except engineering, ceramics and bank. Bank gained 0.4 per cent, ceramics 0.7 per cent, and engineering 1.1 per cent.
The top losing sectors were cement 1.3 per cent, insurance 0.3 per cent, NBFI 0.3 per cent, service 0.2 per cent, textile 0.3 per cent, pharmaceuticals 0.4 per cent and tannery 1.8 per cent.
Islami Bank led the way in the index mover chart while Lafarge Surma Cement played the shatter part, said the MTB analysis.
International Leasing Securities, a stockbroker, said, "Selling of share was predominant from the beginning of the trading session due mainly to book quick gain over the last few sessions' stock price surge".
The stockbroker noted that the activity from the participants remained shaky and the daily market turnover remained almost flat as 'watch-and-see' stance prevailed among the investors.
"Buying of shares in bank and engineering sectors sustained, however, heavy profit booking selling in cement, pharmaceuticals and telecommunication sector contributed to the marginal fall in indices," said the stockbroker.
United Airways dominated the top turnover chart with share of Tk 244 million changed hands followed by Islami Bank Tk 192 million, BSRM Steels Tk 135 million, Quasem Drycells Tk 133 million, Bexomco Pharma Tk 118 million, IFAD Autos Tk 101 million, Appollo Ispat Tk 89 million, Anam Feed Tk 88 million and United Power Tk 87 million changed hands.
Quastem Drycells was the day's best performer, posting a rise of 9.83 per cent followed by Prime Bank First MF 5.66 per cent, Monno Stafflers 5.31 per cent, IBN Sina 4.89 per cent, National Tubes 4.13 per cent, Orion Infusion 4.04 per cent, Beach Hatchery 3.86 per cent, Islami Bank 3.46 per cent, Mutual Trust Bank 3.42 per cent and BSRM Steels gained 3.39 per cent.
Meghna Consented Milk was the day's worst loser, which lost 6.81 per cent, followed by Modern Dyeing 6.03 per cent, BD Autos 5.02 per cent, Monno Ceramics 4.55 per cent, Progressive Life Insurance 4.05 per cent, Legacy Footwear 3.88 per cent, Apex Tannery 3.67 per cent, 3.67 per cent, Aman Feed 3.50 per cent, Standard Ceramics 3.35 per cent and Aramit Ceramics lost 3.16 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also closed in the red with its Selective Categories Index - CSCX - lost 5.49 points to end at 8,939.22.
Losers beat gainers on the port city bourse that traded 9.14 million shares and mutual fund units with a value of Tk 280.56 million.
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