Stocks posted losses for second consecutive session amid volatility yesterday as investors were in profit-booking mood.
The market opened the session with an uptrend but could not sustain the momentum during the second half of the session.
The Dhaka Stock Exchange benchmark index DSEX lost 32 points or 0.8% to end at 4,608.
The Shariah index DSES was marginally down 5 points or 0.5% to 1,076. The comprising blue chips DS30 shed 9 points or 0.4% to 1,738.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, fell 62 points to 8,675.
Trading activities continued to drop as turnover at DSE clocked at Tk500 crore, which is 3.2% lower than the previous session.
Shurwid Industries Ltd, in its first trading day at DSE, gained abnormally 382% to close at Tk48 a share from its offer price of Tk10, making it second best turnover leader.
“Its debut price does not match its fundamentals,” said a market operator. He added that there is something fishy.
After rally in the previous session, banks lost over 1%. All other sectors, including telecommunications, power, financial institutions, textile and cement declined.
Lanka Bangla Securities said market passed a volatile trading session amid low market turnover value.
Market breadth crunched under the weight of selling pressure on small and mid-cap stocks, it said.
It said choppy trading pattern in index came amid concern over market’s sustainability at this level since it crossed 4,660 mark.
IDLC Investments said the downturn continued in the market amid the low turnover and profit booking for the second consecutive session of the week.
Of 298 traded stocks, 46 fell more than 3% whereas only 15 posted losses above the same level.
Zenith Investments said the market extended losses for the second day of the week, getting no support from any particular sectors.
Singer Bangladesh registered a fall of 18% following its declaration of 160% interim cash dividend, making it top turnover leader with shares worth Tk39 crore changing hands.