Stocks faced a mild correction on Tuesday, snapping a four-day rally, as risk-averse investors opted for quick-profit on sector specific shares.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 2.28 points or 0.04 per cent to settle at 4,779 after adding 103 points in the past four cosncicutive sessions.
Market analysts said the market faced natural correction as investor booked short-term profit on stocks that saw significant gains in the past four trading days.
“After four-day rally, the market showed up some natural correction, creating some scope for traders to pure some fresh funds and reposition their investment,” said an analyst at a leading brokerage firm.
The DS30 index, comprising blue chips, also saw a fractional loss of 0.03 point to finish at 1,664. However, the DSE Shariah Index gained 3.96 points to close at 1,094.
Turnover, another important indicator of the market, stood at Tk 3.92 billion, which was 32 per cent higher than the previous day’s turnover of Tk 2.96 billion.
The losers took a modest lead over the gainers as out of 354 issues traded, 184 ended lower, 128 closed higher and 32 issues remained unchanged on the DSE trading floor.
A total of 125,543 trades were executed in the day’s trading session with trading volume of 132.93 million securities.
The market capitalisation of the DSE also rose to Tk 3,599 billion on Tuesday, from Tk 3,601 billion in the previous session.
Top turnover and gainers’ chart were dominated by small-cap companies.
National Tubes topped the turnover chart with shares worth Tk 125 million changing hands, followed by Wata Chemicals, Sonar Banghla Insurance, National Polymer and Fortune Shoes.
Agrani Insurance was the day’s best performer, posting a gain of 9.42 per cent while Regent Textile was the worst loser, losing 9.24 per cent.
However, the port city’s bourse, Chittagong Stock Exchange, posted a marginal gain with the CSE All Share Price Index – CASPI—gaining 11.58 points to settle at 14,531 and the Selective Categories Index - CSCX –advancing 7.95 points to finish at 8,829.
Here too, the losers beat gainers, as 136 issues closed lower, 91 ended higher and 27 remained unchanged on the CSE trading floor.
The port city’s bourse traded 10.19 million shares and mutual fund units worth Tk 301 million in turnover.