Stocks edged lower with volatility yesterday as risk-averse investors opted for short-term gains from previous two sessions.
The market opened higher but started to slide after around one hour trading on profit-booking sale-off on large cap stocks.
The benchmark index DSEX fell 17 points or 0.4% to 4,513, hitting highest 4,545 in early trading.
The Shariah Index DSES ended 4 points or 0.5% lower to 1,098. The comprising blue chips DS30 lost marginally 8 points or 0.5% to 1,719.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, settled at 8,405, slipping 28 points.
Unlike previous session, trading activities took a dive as turnover at the Dhaka Stock Exchange stood at around Tk360 crore from previous session’s five-month high of Tk452 crore.
Trading concentrated on mainly on pharmaceutical sectors, making up more than 19% of the total turnover.
Engineering sector was the worst sufferer declining 2.3%, driven by the country’s leading steel maker BSRM Steel that tumbled 6.2% following unimpressive corporate declaration.
Food & allied posted a significant loss of 1.5%, followed by telecommunications 1.3% and power 1%. Almost all other sectors, including non-banking financial institutions, cement and textile, also declined. However, pharmaceuticals and banks ended slightly higher.
The market breadth remained negative as out of 304 issues traded, 98 advanced, 151 declined and 45 remained unchanged.
IDLC Investments said impatience and uncertainty could be the main catalysts behind the current zigzag move in the index. Naturally, the falling market failed to attract activities, which resided at Tk360 crore level, it said.
Mobil Jamuna Bangladesh continued to become top turnover leader for the second straight session with shares worth around Tk22.4 crore changing hands, followed by Square Pharmaceuticals, Grameenphone, ACI, Shasha Denim and Beximco Ltd.