Stocks edged lower in a volatile trade yesterday, extending the losing streak for the fourth consecutive session.
The market swung between negative and positive as intra-day volatility was 47 points.
The benchmark DSEX was down 10 points or 0.3% to 4,687.
Shariah DSES witnessed factional loss of 0.8 points to 1,001. The blue-chip comprising DS30 also witnessed fractional loss of 0.5 points or 0.5% to close at 1,702.
The Chittagong Stock Exchange Selective Category Index, CSCX, was marginally up 0.8 points to close at 9,192.
Participation in trading continued to slip as the DSE total market turnover stood at Tk419 crore, which was 12% lower than the previous session.
Market bounced back in the morning session as banking stocks got back to their track with improved market capitalisation of 0.4%, said Lanka Bangla Securities in its market analysis.
Banks have packed in investors’ confidence with strong ground and the early recovery is largely supported by covering in most beaten down banking stocks, it said.
“However, late hour sell pressure dragged the index down.”
Most of the manufacturing stocks took the hit with food and allied, tannery and textile sectors’ market capitalisation down by 3.8%, 1.4% and 0.5% respectively.
Participation was largely concentrated to a few scrips. Notably, top five scrips captured more than 25% of total turnover. Life insurance gained 1.5% and non-banking financial institutions 1.2% after previous session’s depressed mood.
Square Pharmaceuticals posted the highest liquidity with turnover of nearly Tk420 crore, making up more than 8% of the total market turnover.
It was followed by Bangladesh Submarine Cable Company Ltd, Grameenphone, Olympic Industries, Jamuna Oil, Bangladesh Shipping Corporation, Meghan Petroleum, Heidelberg Cement and Padma Oil.