Stocks witnessed a mild correction on Wednesday, after a single-day break, as some investors booked quick-profit on major sectors.
Market analysts said some investors opted for booking profit on stocks that saw significant gain in recent price surge, particularly food, telecommunication and bank issues.
A leading broker said investors followed cautious stance and booked some profits as the market gauge hit fresh nine months high Tuesday.
The market started on upward trend and core index crossed the 5,900-mark in the first hour of trade. However, the momentum didn't sustain and the index fell gradually.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 23.79 points or 0.40 per cent to settle at 5,839.
Price fall across major sectors like food, telecommunication, and textile sectors led the day's downfall, commented IDLC Securities.
According to IDLC, the top three negative index contributors were Olympic Industries, Gramemenphone and BATBC, losing 4.90 per cent, 1.167 per cent and 1.11 per cent respectively.
The two other indices also saw marginal correction. The DS30 index, comprising blue chips, went down by 11.80 points to close at 2,017 and the DSE Shariah Index (DSES) fell 7.90 points to finish at 1,322.
The daily trade turnover on Dhaka bourse also fell to Tk 10 billion, which was 12 per cent lower than the previous day's Tk 11.39 billion.
EBL Securities said investors opted for profit booking on stocks that saw price appreciation in recent upward market trend, taking the market in the negative territory.
Among the major sectors, food sector was the highest loser, shedding 1.82 per cent, followed by telecommunication with 1.06 per cent, engineering 0.66 per cent, financial institutions 0.38 per cent, pharmaceuticals 0.30 per cent and banking 0.25 per cent.
A total number of 216,084 trades were executed in the day's trading session with trading volume of 256.15 million shares and mutual fund units.
The market-cap of the DSE fell slightly to Tk 4,123 billion which was Tk 4,141 billion in the previous day.
The losers took a modest lead over the gainers as out of 345 issues traded, 185 declined, 123 advanced and 37 issues remained unchanged on the DSE floor.
Khulna Power Company dominated the turnover chart with 4.07 million shares worth Tk 283 million changing hands, closely followed by Olympic Industries, Dhaka Bank, JMI Syringes and United Power.
The insurance companies dominated the day's gainer's chart as top six gainers out of 10 came from the insurance sector with Eastern Insurance dominated the gainer's chart, posting a gain of 9.91 per cent gain.
It was followed by Karnaphuli Insurance with 9.84 per cent gain, followed by Takaful Islami Insurance 9.82 per cent, Agrani Insurance 9.78 per cent, United Insurance 9.33 per cent and Rupali Insurance 9.32 per cent.
Nitol Insurance was the day's worst loser, losing 8.02 per cent.
Port city bourse Chittagong Stock Exchange (CSE) also backed to the red with the CSE All Share Price Index - CASPI -shedding 57 points to settle at 17,900 and Selective Categories Index - CSCX -losing 34 points to finish at 10,813.
The losers beat the gainers as 153 issues closed lower, 90 ended higher and 28 remained unchanged.
The port city bourse traded 11.92 million shares and mutual fund units worth Tk 361 million in turnover.
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