The market turned back into the red again, breaking the rally of two consecutive days.
The Dhaka Stock Exchange benchmark index DSEX was down nearly 10 points or 0.3% to 4,647.
The Shariah index DSES lost marginally 2 points or 0.3% to 1,113. The blue chip comprising index DS30 shed 4 points or 0.3% to 1,762.
The Chittagong Stock Exchange Selective Category Index CSCX closed at 8,636, dropping 18 points.
All the large cap sectors closed lower except non-banking financial institutions that rallied more than 3%.
Telecommunication lost the highest 1.4%, followed by food and allied 1%, banks 1% and cement 0.6%.
Power, mutual fund and pharmaceuticals experienced slight correction.
Trading activities increased slightly as the DSE total turnover stood at Tk356 crore, which was 5% higher than previous session’s value.
IDLC Investments said the government’s long-term GDP growth target of 8% by 2020 in seventh five-year plan could not uplift market momentum as another analysis of World Bank brings out some issues of external and domestic risk factors at short-term horizon.
Investors’ mixed expectation on upcoming quarterly disclosures put a challenge on gaining momentum at overall market level, it said.
However, they were focusing more on scrip wise positioning and short-term profit realization, it added.
LankaBangla Securities said disappointing corporate earnings might weigh on the market.
Financial and some other large cap stocks moved sharply lower as quarterly earnings season continued to keep investors vigilant about performance of bank, real estate and manufacturing stocks, it said.
LankaBangla said the sellers came to cash in on these stocks to safeguard their position.
Adding to this, investors might have reacted to the news of the World Bank report where the lender cited the China economic slowdown, global commodity price fall and other external factors as potential risks for Bangladesh economy.
Lafarge Surma Cement topped the liquidity chart with a turnover worth Tk22.7 crore changing hands.
It was followed by Beximco Pharmaceuticals, KDS Accessories, Shajibazar Power Company Limited, Aman Feed, Bengal Windsor and Thermoplastics Limited and Saif Powertec.
