The market saw correction Sunday, the opening session of the week, with turnover dropped slightly as investors booked some profit amid cautious trading.
The market opened with a positive note and the prime index of the Dhaka Stock Exchange (DSE) --- DSEX --- gained 26 points within first 30 minutes, but could not sustain due to profit booking pressure, eventually ended at 4,822.71 points, shedding 22.37 points or 0.46 per cent.
However, the other two indices outperformed the market. The DS30 index, comprising blue chips rose 16.75 points or 0.99 per cent to close at 1,698.66 points. The DSE Shariah Index (DSES) also gained 6.60 points or 0.66 per cent to close the session at 1,002.96 points.
The total turnover on DSE came down to Tk 6.95 billion, registering 9.75 per cent decline over the previous session's turnover value of Tk 7.70 billion.
"Market shaved more than 0.46 per cent of the benchmark index DSEX as catchy price of some stocks after a weeklong rally signalled the investors' instinct to book profit on stocks," said LankaBangla Securities, in its daily market analysis.
"The market opened the week with net loss overriding the last week's momentum a bit. The day's economic news also posted expectation of future correction in the current account balance as import grows with investors' confidence," said the stock broker.
"After ending last week's notably higher, market came under pressure on the heels of some profit taking. Buying enthusiasm has remained somewhat subdued whereas sellers took some profits off the table, slowing down the pace of the main index," said Zenith Investments.
"During the correction phase stock prices abates creating opportunities for buyers to make positions, as equities are poised to rebound in near future after the correction phase is over," the Zenith Investments said.
"Mid & Large Cap stocks dominated the day's session. Amid upbeat start, DSEX climbed 26 points at the beginning, but could not sustain due to profit booking pressure," commented IDLC Investments.
Blue chip index, DS30 performed better, primarily due to strong movements in stocks included in DS30. Consequently, the index closed at its historical high of 1,698.67 points. Alongside, Shariah compliant index, DSES crossed 1,000 points mark for the first time, the merchant bank said.
