Dhaka, Bangladesh (BBN) - Dhaka stocks plummeted on Tuesday, breaking the three straight sessions' gaining streak with lower turnover value, as the investors booked profit, market operators said.
The market fell on profit taking and it was a normal price correction, as the market gained for the last three consecutive sessions, they added.
The market opened with a negative note and lost 28 points within five minutes on resumption of the day's trading. The downtrend continued amid minor fluctuations and finally ended the day more than 113 points lower.
The benchmark general index of the DSE, generally known as DGEN, the yardstick of the market, plummeted 113.31 points or 2.64 per cent to close at 4,177.22 on the day.
The broader All Shares Price Index (DSI) slipped 91.95 points or 2.55 percent to close at 3,506.09. The DSE-20 Index comprising blue-chip shares also dropped 72.90 points or 2.07 percent to close at 3,435.56.
Out of 259 issues traded, only 15 advanced, 241 declined and three remained unchanged.
The turnover value stood at BDT 2.37 billion in value terms on the day, down by 39.38 percent compared to BDT 3.91 billion in the previous session.
A total of 60.02 million shares changed hands on the day against 94.31 million in the previous session. The trade deals also decreased to 94,003 against Monday's 137,927.
The total market capitalization of the DSE stood at BDT 2,258.13 billion against BDT 2,274.37 billion in the previous session.
All major sectors lost on the day except telecommunications, which gained by 0.45 per cent, following the news that Grameenphone had won a legal battle against Bangladesh Telecommunication Regulatory Commission.
Banks and non-banking financial institutions (NBFIs) lost 2.10 percent and 3.76 percent respectively, while pharmaceuticals and fuel and power sectors lost more than 2.0 percent each.
National Bank topped the turnover chart with shares worth BDT 122.13 million changed hands.
The other turnover leaders were Grameenphone, Beximco Limited, United Airways, UCBL, SIBL, Mercantile Bank, RN Spinning, ONE Bank and Southeast Bank.
Savar Refractories was the day's highest gainer posting a rise of 2.77 percent.
It was followed by Marico Bangladesh, Rupali Life Insurance, DBBL, Shinepukur Ceramic, GP, IBBL Mudaraba Perpetual Bond, Sub 25 per cent Convertible Bonds of BRAC Bank and Reckitt Benckiser.
HR Textile was the day's worst loser followed by Maksons Spinning, Desh Garments, Modern Dyeing, Dulamia Cotton, Meghna Pet, ICB AMCL First MF, Purabi General Insurance, Zeal Bangla Sugar Mills and Renwick Jajneswar.
BBN/SSR/AD-15Feb12-9:00 am (BST)
