Stocks edged lower yesterday as investors went for booking profits after four-day rally.
After rising more than 40 points, the benchmark DSEX index shed 17 points or 0.4% to end at 4,809.
Shariah-based DSES index edged almost 2 points or 0.2% higher to 980.The blue-chip comprising DS30 index, however, lost 7 points to 1,663.
The Chittagong Stock Exchange Selective Category Index, CSCX, declined 39 points to close at 9,454.
The total turnover at DSE was Tk771 crore, a drop of 4% from the previous session.
After posting a four-day long uptrend, the market went for a natural correction, said Lanka Bangla Securities in its market analysis.
It said following the daily momentum, the market’s closing below the 10 days of moving average is an indication of the short-term trend remaining positive.
“Investors witnessed a cautious trading after crossing 4,800-mark for the first time in the history of the benchmark index.”
Zenith Investment said the positivity of the index got disrupted clearly due to some profit taking tendency of traders and hence distracting the course of the bourse direction.
All the major sectors ended in red except food and allied that gained over 1%, driven by large cap BATBC that rose almost 2%.
Non-banking financial institutions lost the most declining 1.6%, followed by power, telecommunications, pharmaceuticals and banks.
Three mutual funds featured in the top ten gainers list with the overall sector going up by over 1%.
Out of 292 issues traded, 112 closed higher, 163 declined and 17 remained unchanged.