Stocks extended the losing streak for the four consecutive sessions Monday with turnover improved slightly as traders are getting accustomed with new trading system.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down further by 14.30 points or 0.29 per cent to close at 4,878.65 points amid volatile trading throughout the session. DSEX lost 65.38 points in the last four consecutive sessions.
The two other indices also closed in the red. The DS30, comprising blue chips lost 3.60 points or 0.19 per cent to close at 1,804.45 points. The DSE Shariah Index dropped 3.05 points or 0.26 per cent to close at 1,147.34 points.
Turnover at DSE remained sluggish hovering around Tk 2.0-billion level. The total turnover amounted to Tk 2.38 billion, registering an increase of 19 per cent over the previous session's value of Tk 2.00 billion.
The investors' attention was mostly focused on engineering, pharma and textile - the sectors that accounted for 14.77 per cent, 14.36 per cent and 10.29 per cent of the day's total turnover.
"The market prolonged its bearish vibe as lack of enthusiasm amongst the investors compelled the market's downturn for the four consecutive sessions," said International Leasing Securities in analysis.
"The investors' indecisive attitude was observed throughout the day although the day's turnover increased by 19 per cent compared to proceeding day".
Several small-cap stocks managed to grab a portion of investors' attention, while large-caps failed to generate any substantial activities, said the International Leasing.
LankaBangla Securities said: "Stocks continued to taper for the four consecutive sessions owing to ongoing correction on large cap stocks".
Investors showed buying interest on some sector specific small-cap stocks, leading to gain in engineering, food and allied, tannery sectors, said the stock broker.
Sheltech Brokerage said: "Market has recovered significantly from Thursday's sharp turnover loss. Some of the news, such as Beximco's loan restructuring, news of second installment of the government's Tk 3.0 billion incentive for affected small investors may bring a positive vibe in the market".
All the other major sectors closed lower. Telecommunication posted the highest loss of 1.44 per cent. Power and cement went down by 0.48 per cent and 0.42 per cent respectively. NBFIs and banks also went down by 0.36 per cent and 0.18 per cent. Pharmaceuticals edged down by 0.16 per cent.
The losers took a lead over the gainers as out of 304 issues traded, 146 advanced, 119 declined and 39 remained unchanged on the DSE floor.
A total of 0.080 million trades were executed with trading volume of 65.50 million securities. The market capitalisation on DSE stood at Tk 3,238.82 billion against Tk 3,250.19 billion in the previous session.
Fu-Wang Foods Ltd was the most traded stock with shares worth Tk 122.09 million changing hands followed by Western Marine, Agni Systems, Square Pharma and Olympic Industries.
Fu-Wang Foods was also the day's highest gainer, posting a rise 7.05 per cent while EBL NRB Mutual Fund was the worst loser, plunging by 10.20 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) ended in red with its Selective Categories Index - CSCX - lost 15.16 points to close at 9,152.75 points.
Losers beat gainers 130 to 88, with 30 issues remaining unchanged at the port city bourse that traded 8.31 million shares and mutual fund units, turnover value of Tk 264.50 million.
Meanwhile, DSE and CSE offices will remain closed today (Tuesday) on the occasion of Victory Day. Therefore, there will be no trade today (Tuesday).
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