Stocks ended lower for the second running session Monday with turnover remained sluggish as investors continued to sell shares triggered by the fear of further fall.
The market started with a positive trend, but could not sustain. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,624.75 points, shedding 41.65 points or 0.89 per cent.
The other two indices also ended lower. The DS30, comprising blue chips lost 16.58 points or 0.97 per cent to close at 1,688.65 points. The DSE Shariah Index (DSES) dropped 17.47 points or 1.68 per cent to close at 1,017.05 points.
Turnover value on the DSE remained sluggish and stood at Tk 4.35 billion which was 0.5 per cent higher from previous day's value of Tk 4.33 billion.
"Selling stimulus, triggered by the fear of further fall put a drag on bourse," said IDLC Investments, in its regular market analysis.
Meanwhile, Micro Cap shrank significantly amid the Cap classes. Resultantly, DSEX lost 42 points and closed at 4,625 points, it said
"Investors continued centralizing their positions on the basis of quarterly earnings announcement and expectation," said the merchant bank.
Meanwhile, portfolio re-balancing was prominent as investors were seemed pursuing meticulous strategy in their trading activities, the merchant added.
"The market witnessed another waning session as the investors went for selling mood. DSEX lost 78 points in the last two sessions," said International Leasing Securities.
The investors' optimistic quarterly earnings expectation pushed overall banking in the positive zone, said the International Leasing.
Meanwhile, most of the major scrips - GP, Square Pharma, Titas Gas and ICB faced correction expect BATBC. In the meantime, the investors responded positively on earnings declaration of Meghna Petroleum, Padma Oil and BEDL, it added.
The losers took a strong lead over the gainers as out of 286 issues traded, 194 declined, 68 advanced and 24 issues closed unchanged on the DSE floor.
Among the major sectors, bank performed well with 0.65 per cent gain and four emerged at top ten gainers list followed by food & allied which gained 0.39 per cent.
