Dhaka bourse witnessed a moderate correction on Monday after continuous upward trend of the market observed in previous eleven sessions in a row.
According to market operators, the correction took place as many investors booked profits offloading securities whose prices recently rose amid the rally of the market.
The DSEX, the broad index of Dhaka Stock Exchange (DSE), gained 469 points in previous eleven sessions. The market capitalisation in the premier bourse also crossed Tk 4.0 trillion on Sunday.
The broad index and turnover declined marginally on Monday as most of the major sectors including bank, financial institutions, fuel & power and telecommunication witnessed correction.
The market opened the day's session with a positive note but soon later the DSEX declined for a while.
After one hour, the DSEX regained the loss and crossed 5700-point mark.
Later, the upward trend failed to sustain and the DSEX closed the session with marginal losses in broad index and turnover.
At the end of the session, the DSEX settled at 5655.18 points with a loss of 0.55 per cent or 31.82 points.
In previous session, the DSEX posted a gain of 96 points and the turnover crossed Tk 10 billion mark.
According to a market review of EBL Securities, the premier bourse took a breath on Monday after experiencing eleventh consecutive bullish session following profit booking tendency and settled in red zone.
"Investors exerted selling spree in sector specific stocks from bank, financial institutions and pharmaceuticals & chemicals sectors to realise gains," said the EBL Securities.
The shariah based index DSES declined 0.44 per cent or 5.80 points to close at 1289.54 points on Monday.
The DS30 index comprising blue chip securities went down by 0.51 per cent or 10.20 points to close at 1963.89 points.
Of 345 issues traded, 116 advanced, 199 declined and 30 were unchanged.
The turnover stood at above Tk 9.65 billion which was 6.0 per cent less than the turnover of the previous session.
Of the major sectors, which witnessed correction, bank declined 1.0 per cent, engineering 0.6 per cent, fuel & power 0.3 per cent, pharmaceuticals & chemicals 0.4 per cent, telecommunication 0.3 per cent and textile 0.9 per cent.
Large cap companies dominated the turnover chart, while small cap companies were majority in the chart of top gainers on the DSE.
BRAC Bank topped the turnover chart with a value of Tk 255 million followed by Olympic Industries 223 million, BBS Cables Tk 219 million, Singer Bangladesh Tk 207 million and Beximco Tk 201 million.
Alif Manufacturing Company was the number one gainer with a rise of 10 per cent to close at Tk 12.10 each.
Shyampur Sugar Mills was the worst loser after declining 6.41 per cent to close at Tk 36.50 each.
All indices witnessed correction in the Chittagong Stock Exchange (CSE) on Monday.
The benchmark index CASPI declined 0.86 per cent or 150.13 points to close at 17305.30 points.
Of 274 issues traded, 86 advanced, 171 declined and 17 were unchanged.
At the end of the session, the turnover stood at above Tk 417.80 million on the port city bourse CSE.
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