Profit booking continued for the second straight session at the stock market yesterday with the DSE benchmark index edging lower amid volatility.
The morning session was in the positive territory. But the mid-session experienced fall on profit taking, particularly on bank and telecommunication issues those fell for the second consecutive day.
The benchmark DSEX lost 16 points or 0.4% to close at 5,292, hitting highest 5,359 in early trade and lowest 5,283 in the mid session.
The Shariah index DSES, however, inched 2 points or 0.2% higher to 1,240. The comprising blue chips DS30 witnessed fractional losses of 0.8 points to close at 1,993.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, slipped 36 points to 9,936.
Trading activities remained strong as DSE turnover was over Tk1,098 crore, up almost 9% over the previous session’s value.
Two of the largest cap sectors-- banks and telecommunication – slipped more than 2% and 0.5% respectively. Non-banking financial institutions ended flat.
Pharmaceuticals posted the highest gain of over 2%, followed by power that shed over 1% and, food and allied 0.2%.
Lanka Bangla Securities said market continued to extend loss as investors continued to earn profit on banking stocks for the second day.
The market indicators show that the multi-national companies and manufacturing stocks were back on track as investors were smacking lips at further gain on these stocks, it said.
Zenith Investments said index continued to languish in the red, facing correction as investors swooped down to book some profit.
It said the total turnover volume, however, refused to be let down and stood firmly above Tk1,000 crore.
IDLC Investments said: “Sidewalk movement continued in the premier bourse and investors continued to reallocate their position, while turnover figures remained buoyant.”
Square Pharmaceuticals topped the liquidity chart accumulating nearly Tk70 crore, followed by Mobil Jamuna Limited Bangladesh, Grameenphone, Beximco Limited, Delta Life Insurance and Summit Power.