Stocks finished flat amid volatile trading, as investors booked profit for the second consecutive session after previous six-day rally.
The market began on positive note in the morning but started declining on profit booking mainly on telecommunication, pharmaceuticals and food issues.
The benchmark DSEX witnessed fractional losses of 0.4 points to end at 4,554, hitting highest at 4,585 in the first session and lowest 4,551 in the midsession.
The Shariah index shed marginally 2 points or 0.3% to 1,062. The comprising blue chips DS30 rose almost 7 points or 0.4% to 1,712.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, lost 55 points to close at 8,541.
Turnover at DSE remained sluggish and total turnover stood at Tk615 crore, down 3% over the previous session.
The investors’ attention was mainly focused on textile, engineering and fuel and power sectors, accounting for 15%, 15% and 12% respectively of the day’s total turnover.
All the major sectors edged lower. Telecommunication suffered the most with more than a fall of 2%, followed by pharmaceuticals 0.7%, fuel and power 0.4%, and food and allied 0.4%.
“Pressing down the demand side, market demonstrated marginal level of sale pressure. But, the switch across and focus on selective large caps still prevailed,” said IDLC Investments.
It said as DSEX accumulated gains from 4,350 points level in recent time, investors started pursuing cautious stance to track market movements.
Lanka Bangla Securities said: “After trading mostly higher in early session, indices have moved back to the downside on heels of hefty profit booking over the course of the day’s trading session.”
It said market seems to consolidate at this level after a weeklong rally, eyeing the next move in market following quarterly declarations by companies.
Zenith Investments said it seems the holiday hangover still looms over the market, as it started off with a slow stance and headed towards negativity. The sheer size of the volume tried to avert the course of direction but could not do so for the main index only.