Dhaka, Bangladesh (BBN)-Bangladesh’s stocks witnessed marginal correction on Tuesday with turnover on the premier bourse crossing BDT 8.0 billion-mark for the second time in 2016 as enthusiastic investors were active on sector specific stocks.
Brokers said the market faced mild correction as risk-averse investors booked quick-gain on selective stocks in the last half of the trading session.
The market started with an upbeat note and the key index of the premier bourse crossing 4,800-mark within first 15 minutes, but the growing momentum slowed down within the first hour and a half hours amid profit booking sell pressure, ultimately closed above 4.0 points lower.
After hitting 14-month high level in the previous days, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 4.34 points or 0.09 percent to settle at 4,793.31 points.
The two other indices also edged lower. The DS30 comprising blue chips fell1.92 points or 0.10 percent to finish at 1,768.06 points.
The DSE Shariah Index (DSES) saw a fractional loss of 0.56 point or 0.05 percent to close at 1,135.48 points.
Turnover, the important indicator of the market, however, jumped to BDT 8.08 billion, which was nearly 8.0 percent higher than the previous day’s turnover of BDT 7.48 billion.
Tuesday’s turnover was the also the second highest turnover value in 2016 after BDT 14.78 billion recorded on November 23, which was largely depended on block transaction of Khulna Power Company.
The gainers took a strong lead over the losers as out of 324 issues traded, 149 closed higher, 125 closed lower and 50 remained unchanged on the DSE trading floor.
Generation Next Fashions was the day’s highest gainer, posting a 9.33 percent gain, while Midas Financing was the worst loser, slumping by 6.0 percent.
However, the port city bourse, the Chittagong Stock Exchange (CSE) edged higher with its Selective Categories Index – CSCX – advancing 3.33 points to settle at 8,987.48 points.
Gainers beat losers as 148 issues closed higher, 102 closed lower and 25 remained unchanged on the CSE.
The port city bourse traded 21.50 million shares and mutual fund units’ worth over BDT 461 million in turnover.