Stocks broke a two-day rally on Monday, going back to the red zone as the market witnessed late-hour selling pressure.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), fell more than 39 points or 0.72 per cent, finishing the day at 5,417 points.
Brokers said the market opened higher, but the morning buoyancy did not sustain as investors triggered late-hour selling spree.
Selling of shares mostly from financial institutions, power, engineering and pharma sectors influenced the market to fall, they said.
The financial institution sector lost 2.20 per cent, followed by power with 1.90 per cent, engineering 1.8 per cent and pharmaceuticals 0.90 per cent.
"Profit taking and cautious trading pushed the benchmark index into the red," said the analyst at a leading brokerage firm.
He noted that small investors were cautious about fresh exposure to the market amid ongoing pessimism while institutional investors continuously injected money into stocks.
According to AT Capital Partners, the market closed in the red zone as none of the sectors gained as compared to the previous day.
Two other indices of the premier bourse also finished lower. The DS30 index, comprising blue chips, lost 11.78 points to settle at 2,011 and the DSE Shariah Index (DSES) fell nearly 12 points to close at 1,257.
EBL Securities, a stockbroker, said the market witnessed notable price correction amid investors' shaky confidence on the market.
Turnover, an important indicator of the market, also fell to Tk 4.31 billion, which was 3.36 per cent lower than the previous day's Tk 4.46 billion.
"Turnover remained low as a section of investors remained on the sidelines to safeguard their position amid ongoing bearish market trend," commented International Leasing Securities.
Textile sector dominated the turnover chart, accounting for 17 per cent of the day's total turnover, closely followed by banking with 16 per cent and engineering 15 per cent.
Prices of 66 per cent traded issues declined, as out of the 337 issues traded, 224 closed lower, 70 higher and 43 remained unchanged on the DSE trading floor.
Intraco Refueling Station was the day's turnover leader with shares worth Tk 257 million changing hands, closely followed by Al-Arafah Islami Bank with Tk 185 million, BRAC Bank Tk 162 million, United Power Tk 151 million and Miracle Industries Tk 134 million.
Queen South Textile was the day's best performer, posting a gain of 7.64 per cent while Shympur Sugar Mills was the day's worst loser, shedding 9.52 per cent.
The Chittagong Stock Exchange (CSE) also finished lower with CSE All Share Price Index - CASPI- shedding 90 points to end at 16,742 and Selective Categories Index - CSCX - losing 54 points to finish at 10,132.
Losers beat the gainers as 224 issues closed lower, 70 higher and 43 remained unchanged on the CSE.
The port city bourse traded 7.03 million shares and mutual fund units worth more than Tk 227 million in turnover.
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