The market edged down Sunday on the first day of the week with turnover improved further as investors booked profit amid cautious stance.
The market opened with a positive note, but could not sustain. At the end of the day's session, the prime index of the Dhaka Stock Exchange (DSE) --- DSEX --- ended at 4,727.44 points, shedding 33.74 points or 0.70 per cent.
The other two indices saw steep fall. The DS30 index, comprising blue chips went down by 20.80 points or 1.23 per cent to close at 1,667.22 points. The DSE Shariah Index (DSES) lost 10.13 points or 1.01 per cent to close at 985.14 points.
Trading at DSE is improving gradually and crossed Tk 4.0 billion mark after seven sessions. The total market turnover stood at Tk 4.23 billion, registering 5.81 per cent increase over the previous session's turnover value of Tk 3.99 billion.
"Investors' profit taking attitude generated selling pressure, resultantly market closed in red," commented International Leasing Securities, in its daily market analysis.
Price correction of some large cap stocks like GrameenPhone, Square Pharma, Titas Gas also accelerated the slid, the stock broker said.
"Investors' concentration was mainly focus on non-bank financial institutions, engineering and pharmaceuticals, accounted for 13.16 per cent, 11.34 per cent and 11.25 per cent market's total turnover," the stock broker added.
LankaBangla Securities said, "Index retreated as investors stuck to profit booking on stocks. Buyers were mostly in gutless posture which points steep tumble in index with market turnover up by 5.81 per cent at the end of trading."
"Market has wilted slightly as there were no specific triggers for investors amid slowing growth in economy and lukewarm domestic earnings reports," the stock broker added.
"Opening session of the week saw a break in the gaining streak. As session went offbeat over certain stocks in the Large and Mid Cap segment, shed offs were strong in these segments," observed IDLC Investments.
Corporate declarations made some strong ripples across the bourse. Notably, 30 per cent dividend and 1R:2 declarations of IDLC pumped up NBFI sector in participation, bringing it on top of others, it said.
"A wide variety of factors including profit taking after maturity of some significant stocks, and heavy concentration on only few particular stocks, seems to indicate that a correction is imminent," said Zenith Investments
Investors with long and mid term positions are reluctant over few days of correction whereas short term traders are actively taking part in the ongoing fluctuation, the Zenith analysis added.
The losers took a strong lead over the gainers as out of 290 issues traded, 174 declined, 84 advanced and 32 issues closed unchanged on the DSE floor.
All the major sectors ended lower except food & allied and NBFIs --- gaining 1.72 per cent and 0.99 per cent respectively. The price appreciation of BARBC which gained 2.77 per cent alone, helped food & allied sector post the highest gain of the session.
The other large cap sectors all retraced with telecommunications, fuel & power, banks and pharmaceuticals closed down 2.31 per cent, 1.51 per cent, 1.07 per cent and 1.04 per cent respectively.
Activities increased in the major bourse (DSE) where trade was up 10.98 per cent, but volume was down 6.90 per cent. A total number of 0.099 million trades were executed with 79.73 million securities of trading volume.
The market capitalization of the DSE stood at Tk 2,886.37 billion against Tk 2,902.35 billion in the previous session.
Bangladesh Shipping Corporation (BSC) dominated the top turnover chart with shares worth Tk 357.21 million changing hands followed by IDLC Finance, Singer BD, Meghna Petroleum and BSCCL.
IDLC Finance was the day's highest gainer; posting a rise of 12.56 per cent following the while HR Textile was the day's worst losers, slumping by 8.74 per cent.
The Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index - CSCX lost 68.03 points to close at 9,273.66 points.
Losers beat gainers 153 to 54, with 19 issues remaining unchanged at the port city bourse that traded 8.96 million shares and mutual fund units, turnover value of Tk 473.89 million.
The market opened with a positive note, but could not sustain. At the end of the day's session, the prime index of the Dhaka Stock Exchange (DSE) --- DSEX --- ended at 4,727.44 points, shedding 33.74 points or 0.70 per cent.
The other two indices saw steep fall. The DS30 index, comprising blue chips went down by 20.80 points or 1.23 per cent to close at 1,667.22 points. The DSE Shariah Index (DSES) lost 10.13 points or 1.01 per cent to close at 985.14 points.
Trading at DSE is improving gradually and crossed Tk 4.0 billion mark after seven sessions. The total market turnover stood at Tk 4.23 billion, registering 5.81 per cent increase over the previous session's turnover value of Tk 3.99 billion.
"Investors' profit taking attitude generated selling pressure, resultantly market closed in red," commented International Leasing Securities, in its daily market analysis.
Price correction of some large cap stocks like GrameenPhone, Square Pharma, Titas Gas also accelerated the slid, the stock broker said.
"Investors' concentration was mainly focus on non-bank financial institutions, engineering and pharmaceuticals, accounted for 13.16 per cent, 11.34 per cent and 11.25 per cent market's total turnover," the stock broker added.
LankaBangla Securities said, "Index retreated as investors stuck to profit booking on stocks. Buyers were mostly in gutless posture which points steep tumble in index with market turnover up by 5.81 per cent at the end of trading."
"Market has wilted slightly as there were no specific triggers for investors amid slowing growth in economy and lukewarm domestic earnings reports," the stock broker added.
"Opening session of the week saw a break in the gaining streak. As session went offbeat over certain stocks in the Large and Mid Cap segment, shed offs were strong in these segments," observed IDLC Investments.
Corporate declarations made some strong ripples across the bourse. Notably, 30 per cent dividend and 1R:2 declarations of IDLC pumped up NBFI sector in participation, bringing it on top of others, it said.
"A wide variety of factors including profit taking after maturity of some significant stocks, and heavy concentration on only few particular stocks, seems to indicate that a correction is imminent," said Zenith Investments
Investors with long and mid term positions are reluctant over few days of correction whereas short term traders are actively taking part in the ongoing fluctuation, the Zenith analysis added.
The losers took a strong lead over the gainers as out of 290 issues traded, 174 declined, 84 advanced and 32 issues closed unchanged on the DSE floor.
All the major sectors ended lower except food & allied and NBFIs --- gaining 1.72 per cent and 0.99 per cent respectively. The price appreciation of BARBC which gained 2.77 per cent alone, helped food & allied sector post the highest gain of the session.
The other large cap sectors all retraced with telecommunications, fuel & power, banks and pharmaceuticals closed down 2.31 per cent, 1.51 per cent, 1.07 per cent and 1.04 per cent respectively.
Activities increased in the major bourse (DSE) where trade was up 10.98 per cent, but volume was down 6.90 per cent. A total number of 0.099 million trades were executed with 79.73 million securities of trading volume.
The market capitalization of the DSE stood at Tk 2,886.37 billion against Tk 2,902.35 billion in the previous session.
Bangladesh Shipping Corporation (BSC) dominated the top turnover chart with shares worth Tk 357.21 million changing hands followed by IDLC Finance, Singer BD, Meghna Petroleum and BSCCL.
IDLC Finance was the day's highest gainer; posting a rise of 12.56 per cent following the while HR Textile was the day's worst losers, slumping by 8.74 per cent.
The Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index - CSCX lost 68.03 points to close at 9,273.66 points.
Losers beat gainers 153 to 54, with 19 issues remaining unchanged at the port city bourse that traded 8.96 million shares and mutual fund units, turnover value of Tk 473.89 million.
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