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Stocks extended the losing streak for the sixth straight day on Monday, with falling turnover, as risk-averse investors continued to bag profit on quick-gaining shares.
Following the previous five days’ downturn, the market opened on a positive note, and the key index rose around 28 points within the first 15 minutes of trading.
But the rest of the session went down amid modest volatility as investors opted for booking profit in the trendy stocks.
The DSEX, the prime index of the Dhaka Stock Exchange (DSE), finally went down more than 24 points to settle at 6,259. The DSEX shed 188 points in the past six trading days.
Market insiders said cautious investors continued their profit taking sell on stocks, which saw significant gains in the past few trading days.
The DSES index, which represents Shariah-based companies, saw 7.51 points to 1,361, while the DS30 index, which consists of blue-chip companies, gained 2 points to 2,131.
The market turnover dropped to Tk 8.19 billion, which was 11 per cent down from Tk 9.25 billion the day before.
Losers took a strong lead over the gainers, as out of 394 issues traded, 245 saw price erosion, 97 closed higher, and 52 remained unchanged on the DSE trading floor.
Orion Infusion became the most traded share, with shares worth Tk 419 million changing hands, followed by Best Holdings, Fu-Wang Ceramics, and Aftab Automobiles.
The Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI)—losing 96 points to close at 17,990, and the Selective Categories Index (CSCX) shed 57 points to close at 10,774.
Of the issues traded, 161 declined, 66 advanced, and 21 issues remained unchanged on the CSE.
The port city bourse traded 6.39 million shares and mutual fund units with a turnover value of Tk 193 million.