Dhaka, Bangladesh (BBN) – Bangladesh’s stocks faced marginal correction on Monday, breaking a five-day winning spell, as risk-averse investor booked quick profit on sector specific large-cap issues.
Brokers said stocks posted meager correction as cautious investors sold shares to bag some profit on quick gaining stocks, leading the market in the red territory.
The market was in the positive territory for a brief period but investors put sale pressure to take modest profit as the session progressed, sending the market to the negative territory.
The Key Index of DSE shaded 16.54 points while the Selective Category Index of port city bourse fell 19.87 points at the closing.
The prime index of the Dhaka Stock Exchange (DSE) settled at 5,659.72, shedding 16.54 points or 0.29 per cent after adding more than 103 points in the past five consecutive sessions.
Turnover, the most important indicator of the market, fell to BDT 10 billion, which was 22 per cent lower than the previous day’s BDT 12.85 billion.
The losers took a modest lead over the gainers as out of 328 issues traded, 158 closed lower, 123 closed higher and 47 remained unchanged on the DSE trading floor.
Beximco dominated the DSE turnover chart with about 12.31 million shares worth nearly BDT 444 million changing hands, followed by LankaBangla Finance, Baraka Power, Mercantile Bank and Far Chemical Industries.
Prime Finance First Mutual Fund was the day’s highest gainer, posting 5.13 per cent rise, while Al-Haj Textile was the worst loser, shedding 4.90 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX – falling 19.87 points to settle at 10,639 points.
Losers beat gainers as 132 issues closed lower, 92 closed higher and 32 remained unchanged on the CSE.
The port city bourse traded 23.58 million shares and mutual fund units’ worth over BDT 627 million in turnover.