Dhaka, Bangladesh (BBN)– Bangladesh stocks witnessed marginal correction on Sunday as investors went for profit-taking sales of shares of financial scrips and Grameenphone, market operators said.
On the day, the turnover hit 16-month high as many investors injected fresh funds in securities, they added.
DSEX, the key index of DSE, lost 0.17 per cent, or 10.55 points, to close at 5,939.45 points on Sunday after gaining 59.77 points in the previous three sessions.
The market was positive in early trading but went down when investors went for profit-taking share sales in last half an hour of the session, they explained.
They said that investors exerted sales pressure on companies which rose in recent days.
The financial and telecommunications sectors, the key movers of the index in last few days, led the dive on Sunday.
Average share prices of bank, non-bank financial institution and telecommunication dropped by 1.77 per cent, 0.73 per cent and 0.50 per cent respectively.
The turnover on DSE surged to BDT 11.98 billion on Sunday compared with that of BDT 10.37 billion in the previous trading session.
Sunday’s turnover hit a 16-month high after September 19, 2017 when it was BDT 150.87 billion.
Of the 336 companies and mutual funds traded on Sunday, 159 declined, 162 advanced and 26 remained unchanged.
DSE blue-chip index DS30 dropped by 0.26 per cent, or 5.47 points, to close at 2,043.52 points.
Shariah index DSES, however, added 0.04 per cent, or 0.65 points, to finish at 1,322.26 points.
Of total turnover, above BDT 161.10 million came from transactions executed in block board.
The Sunday’s turnover was the highest value in 16 months. The DSE featured a turnover of above BDT 15.08 billion on September 17, 2017.
“The market started on an optimistic note and the key index rose about 41 points within 30 minutes of trading but couldn’t sustain in later session. Earnings, year-end dividend declaration and upcoming MPS can be attributed for today’s [Sunday] marginal corrections,” said EBL Securities in its daily market commentary.