Stocks extended losing streak for the fourth running session Monday amid choppy trading with turnover declined further as late hour sell pressure cut early gains.
The market was in upbeat mood in the opening session, but late sell pressure dragged it down marginally. At the end of the session, the prime index of the Dhaka Stock Exchange (DSE) --- DSEX --- ended at 4,687.19 points, shedding 10.10 points or 0.21 per cent.
The other two indices saw no significant movement and went down marginally. The DSE Shariah Index (DSES) went down 0.75 points or 0.07 per cent to close at 1,001.51 points. The DS30, comprising blue chips lost 0.48 points or 0.02 per cent to close at 1,702.25 points.
The total turnover on DSE came down to Tk 5.05 billion, registering 12 per cent decline over the previous session's value of Tk 5.74 billion.
"Market slowed down its sliding mood as sectors like banks, financial institutions and telecommunications ended the session in green," commented International Leasing Securities.
Investors' indecisive attitude caused fluctuation of 46.72 points in DSEX during the trading hours, said the International Leasing Securities.
"Market bounced back in morning trading as bank stocks got back to their track with improved market capitalization of 0.4 per cent," commented LankaBangla Securities, in its daily market analysis.
"Banks have packed in investors' confidence with strong ground and the early recovery is largely supported by covering in most beaten down banking stocks," said the stock broker.
However, late hour sell pressure dragged the index down to 8 days low. Most of the manufacturing stocks took the hit with food & allied tannery and textile sectors' market capitalization down by 3.8 per cent, 1.4 per cent and 0.5 per cent respectively, it said.
"Investors might have found the day a good time to churn portfolio and bought stocks showing further earnings upgrades potential," the stock broker added.
"Continuing previous day's dim mode, market started with a sloppy attitude. At the end, DSEX closed red and remained below 4,700 points for the second sessions," said IDLC Investments.
With this, market level correction approached to fourth session. In the meantime, participation was largely concentrated to a few scrips. Notably, top five scrips captured more than 25 per cent of the day's turnover, said the IDLC Investments.
The losers took a modest lead over the gainers as out of 296 issues traded, 171 declined, 104 advanced and 21 issues closed unchanged on the DSE floor.
Among the major sectors, NBFIs gained the most with 1.20 per cent rise followed by telecommunications and banks which edged up by 0.89 per cent and 0.37 per cent respectively.
Fuel & power and pharmaceuticals ended 1.13 per cent and 0.16 per cent lower. Food & allied posted the highest loss, declining sharply by 3.81 per cent mainly for price correction of BATBC that lost 4.98 per cent alone.
Activities decreased in the major bourse (DSE) where volume and trade were down 8.44 per cent and 11.78 per cent. A total of 0.106 million trades were executed with 81.37 million securities of trading volume.
The market capitalization of the DSE stood at Tk 2,908.54 billion against Tk 2,917.65 billion in the previous session.
Square Pharma dominated the top turnover chart with shares worth Tk 419.44 million changing hands. The stock alone captured 8.3 per cent of the total market turnover followed by BSCCL, GP, Olympic and Jamuna Oil.
Rupali Life Insurance was also the day's highest gainer; posting a rise of 8.45 per cent while LankaBangla Finance was the day's worst losers, slumping by 9.30 per cent following its price adjustment after record date.
The port city bourse --- the Chittagong Stock Exchange (CSE) closed flat in positive with its Selective Categories Index - CSCX gained 0.72 points to close the session at 9,192.32 points.
Losers beat gainers 135 to 64, with 31 issues remaining unchanged at the port city bourse that traded 8.38 million shares and mutual fund units, turnover value of Tk 451.70 million.
