Stocks extend corrections to second session
Indices at the Chittagong Stock Exchange also settled on red terrain
Dhaka stocks, on their way to sustain above the recent high, had hiccups this week as investors opted for short term capital gains.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE) hitting an intraday high of 6,280 on 13 December, entered into correction and after facing volatility, fell to 6,251 on Monday.
The session on Monday started with buyers' optimism. But profit-booking at the second half resulted in a 0.09% drop during the closing bell.
"The indices remained downbeat for the majority of the session since cautious investors preferred to reduce their capital market exposure because of the prevailing tensions on the macroeconomic and political fronts," EBL Securities wrote in its daily market commentary.
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Meanwhile, market turnover fell to a ten-day low, declining by 25.6% to Tk465 crore.
On the sectoral front, textile, engineering and pharmaceuticals dominated the turnover table as more than half of the DSE turnover on Monday was concentrated in the three sectors.
Most of the sectors displayed dismal returns, out of which travel, mutual fund and jute faced the most corrections, while bank, cement and food sectors had marginal positive returns.
47 scrips advanced, while 116 declined on the DSE.
Indices at the port city bourse, Chittagong Stock Exchange, also settled on red terrain.
