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Stocks returned to the red on Tuesday, snapping a two-day winning spell, as risk-averse investors went on selling binge on major stocks.
DSEX, the benchmark index of the Dhaka Stock Exchange, lost 41.51 points or 0.83 per cent to settle at 4958, after adding more than 144 points in the past two days.
Market analysts said cautious investors booked quick-profit on large-cap shares like Grameephone, United Power, BATBC, Renata and Square Pharma, taking the market in the negative territory again.
The market started on upward note and the key index rose about 16 points within first 15 minutes of trading. But rest of the session went down steadily.
Two other indices also closed lower. The DS30 index, comprising blue chips, fell 15.86 points to finish at 1,774 and the DSE Shariah Index shed 12.85 points to close at 1,145.
Turnover, a crucial indicator of the market, also fell to Tk 4.05 billion, which was nearly 22 per cent lower than the previous day’s Tk 5.17 billion.
Losers took a strong lead over the gainers as out of 351 issues traded, 214 closed lower, 103 ended higher and 34 remained unchanged on the DSE trading floor.
A total number of 114,693 trades were executed in the day’s trading session with trading volume of 128.23 million shares and mutual fund units.
The market-cap of the DSE also fell to Tk 3,758 billion on Tuesday, from Tk 3,791 billion in the previous session.
Fortune Shoes topped the turnover chart with shares worth more than Tk 197 million changing hands, followed by Grameenphone, Beacon Pharma, Sonar Bangla Insurance and National Tubes.
SEML Lecture Equity Management Fund was the day’s best performer, posting a gain of 10 per cent while Fortune Shoes was the day’s worst loser, plunging by 9.12 per cent.
The port city’s bourse, the Chittagong Stock Exchange, also backed to the red with its All Shares Price Index (CAPSI) -- CASPI—losing 138 points to close at 15,079 and the Selective Categories Index - CSCX –shedding 83 points to finish at 9,158.
Here too, losers beat the gainers as 153 issues closed lower, 79 ended lower and 18 remained unchanged on the CSE.
The port city bourse traded 11.67 million shares and mutual fund units worth nearly Tk 266 million in turnover.