BBN file photo

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks faced marginal correction on Monday, breaking a three-day sharp rally, as cautious investor booked profit on quick-gaining stocks.

However, daily trade turnover on Dhaka Stock Exchange (DSE) scaled BDT 15-billion-mark, for the first time in nearly eight months amid active presence of investors in both sides of the trading fence.

Turnover, a crucial indicator of the market, stood at BDT 15.25 billion on the country’s premier bourse, climbing further by 26 percent over previous day’s mark of BDT 12.08 billion.

It was the biggest single-day transaction in the last eight months since January 24, when the turnover totaled a record BDT 20.13 billion

Analysts said cautiouis investors preferred to book profit on stocks that saw substantial gain in recent upsurge while some took position on sector-wise issues, taking the market in the red territory.

The market opened with an upward note and key index rose 44 points points within first 15 minutes of trading, but it fell sharply in the next 15 minutes and remained volatile rest of the trading session, finally ended 4.63 points lower.

DHAKA STOCK EXCHANGE:

DSEX, the benchmark index of the DSE, which replaced the DGEN in four-and-a-half-year back, settled at 6,236, after losing 4.63 points or 0.07 percent over the previous session.

The two other indices, the DS30 index and the DSE Shariah Index (DSES) — followed the suit, closing at 2,217 and 1,380 points, after shedding 9.12 points and 11.19 points respectively.

The loser took a strong led over the gainers as out of 331 issues traded, 190 closed lower, 101 higher and 40 remained unchanged on the DSE trading floor.

National Bank topped the day’s turnover chart with shares of BDT 585 million changing hands, closely followed by First Security Islami Bank, Al-Arafa Islami Bank, Prime Bank and LankaBangla Finance.

Safko Spinning Mills was the day’s best performer, posting a gain of 9.49 percent while Progressive Life Insurance Compnay was the day’s worst loser, plunging by 4.55 percent.

CHITTAGONG STOCK EXCHANGE:

However, the port city bourse Chittagong Stock Exchange (CSE), stayed positive trend with its Selective Categories Index – CSCX – gaining 10.33 points to close at 11,719 points.

Losers, however, beat gainers as 146 issues closed lower, 95 higher and 26 remained unchanged on the CSE.

The port city bourse traded 28.78 million shares and mutual fund units worth more than BDT 685 million in turnover.

BBN/SS/ANS