Stocks slipped in red yesterday as investors who remained worried over the current political impasse opted for quick profits from previous three-day marginal rise.
The market started on negative tone with slow trading, which continued till close of the session.
The benchmark index DSEX was down 18 points or 0.4% to close at 4,951, hitting highest 4,971 in early trading and lowest 4,946 in the final session.
The Shariah index DSES lost slightly 8 points or 0.8% to 1,174. The comprising blue chips DS30 closed at 1,840, shedding 8 points or 0.5%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, declined 34 points to 9,206.
Trading at DSE remained sluggish as turnover came down below Tk400 crore-mark to stand at Tk390 crore, down 3.5% over the previous session.
Among the large cap sectors, only food and allied survived gaining more than 1%.
All other sectors closed lower. Telecommunication was the biggest loser falling almost 1%, power 0.9%, cement 0.7% and pharmaceuticals 0.3% on profit booking, ending their marginal rise in the previous session.
Banks and non-banking financial institutions continued to edge lower.
“The market failed to sustain the rally as risk-averse investors booked quick profits taking cue from the political front,” said a stock broker. “It might continue to lose its rhythm unless political dust is settled down.”
Lanka Bangla Securities said market ended lower after gaining in past three consecutive sessions. The market saw selling pressure in last hour of trade on profit booking, it said.
It said investors showed buying interest on sector specific stocks which are perceived to generate value in coming quarters.
IDLC Investments said market slipped into negative vibes from the very beginning of the session.
Investor’ sentiment lacked confidence in absence of definitive indication of political heating up, tantalising them to book the marginal gain accrued in the previous sessions, it said.
Bangladesh Building Systems Ltd has topped the liquidity chart with turnover worth Tk23.6 crore, followed by IDLC Finance Ltd, Agni System, Active Fine Chemical, Alltex, Dhaka Electric Supply Company and Saif Powertech.