Stocks tumble after a four-week rally
DSE total turnover declined by 7.4% to Tk1,482 crore on Sunday
Stocks faced correction on Sunday as investors opted for profit booking in the fifth week of the recent market rally.
"Indices in the Dhaka Stock Exchange (DSE) cooled down a bit after a prolonged rally in the past few days," said EBL Securities in their daily market commentary.
The market started with an upward momentum but ended in the red trajectory because of investors' profit-taking tendency at the end of the session, it added.
DSEX, the prime index of the DSE, went down by 32.7 points or 0.5% to stand at 7,073 on Sunday.
Besides, the total turnover declined by 7.4% to Tk1,482 crore in the capital city bourse.
Investors' daily engagement was highly concentrated in miscellaneous, pharmaceuticals, and fuel-power sectors that contributed 15.8%, 13.2%, and 9.5% in the DSE turnover respectively.
Profit booking pressure in majority scrips dragged the indices down. Out of the 383 issues traded in the DSE, 102 advanced, 248 declined, and 33 remained unchanged.
Ceramics, food, and general insurance sectors led the gainers' table as their market capitalisation increased by 4.2%, 2.1%, and 2.1% respectively.
On the other hand, services and real estate, textile, travel and leisure sectors lost over 2% of their market capitalisations.
Market capitalisation is the market value of a company which comes through multiplying the company's stock price and the number of total shares.
Indices in the Chittagong Stock Exchange also declined on Sunday with its daily turnover dropping to Tk38.9 crore from Tk44.1 crore.