Stocks closed lower yesterday as investors continued to prefer short-term profit booking.
The benchmark index DSEX was down 28 points or 0.6% to settle at 4,669, ending its two-day moderate rally.
The Shariah index DSES moved down around 6 points to 1,122. The blue chip comprising index DS30 shed 11 points or 0.7% to 1,756.
The Chittagong Stock Exchange Selective Category Index CSCX closed at 8,675, slipping 61 points.
Participation in trading declined to Tk670 crore, down 26% over the previous session at DSE. Textile had the highest contribution of more than 24.2% of the total turnover.
Pharmaceuticals showed the highest turnover increase of 44% while telecommunication the highest turnover loss of 52%.
The market breadth, however, remained negative as out of the total 326 scrips traded at DSE, 84 declined, 201 advanced and 41 remained unchanged.
Heavyweight telecommunications sector, led by top mobile operator Grameenphone, declined 1.6%, snapping its five-day consecutive rose.
Profit booking also took place in bank, non-banking financial institutions, pharmaceuticals, power and engineering sectors.
IDLC Investments said uncertainties surrounding the global economic condition and its possible impact on an export dependent country like Bangladesh instigated the investors to dim down their economic outlook.
“Resultantly, the market faced correction reflecting the presumptions of meticulous investors.”