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Stocks ended lower as investors sold off their shares for profit-booking on Monday.
The prime index of the Dhaka Stock Exchange (DSE) decreased 83.63 points to settle at 5,932.28.
The DSE had gained nearly 800 points, or 14.3 per cent, in just four trading days from August 6 to 11, marking a record at least in one decade.
Market experts say investors have become optimistic about the return of good governance in the market following Sheikh Hasina’s resignation as prime minister.
The earlier market rally was largely supported by fundamentally-strong stocks that had become cheap after sharp corrections in recent times, they said.
The rallying capital market hit the clutch due to profit-booking sell-offs as investors partially offloaded their holdings to realise recent gains after the benchmark index reached a 5-month high, spurred by a notable shift in investor sentiment, according to EBL securities.
According to EBL Securities, the capital market hit a roadblock due to profit-taking sell-offs, with investors partially offloading their holdings after the benchmark index reached a five-month high. The market exhibited volatility from the start of the session, with investors actively trading on both sides. However, sellers ended up dominated the trading activity, pulling the reins of the heated-up market.
The blue-chip index DS30, a group of 30 prominent companies, saw a 30.82 point decrease to 2153, while the DSES index, which represents Shariah-based companies declined by 14.46 points to 1,270.81.
Turnover, a crucial indicator of the market, stood at Tk 11.43 billion, down by 43 per cent from the previous trading day.
The majority of the stocks saw a price decrease, as out of the 403 issues traded, 53 closed higher, 337 ended lower, and 13 remained unchanged on the DSE trading floor.
Grameenphone Ltd was the most-traded stock with shares worth Tk 1,131.31 million changing hands, followed by BRAC Bank PLC, Techno Drugs Ltd, Robi Axiata PLC and IFIC Bank PLC.
Chittagong Stock Exchange (CSE) also ended lower with its All Share Price Index (CASPI) losing 125 points to settle at 17158 and the Selective Categories Index (CSCX) dropping 85 points to settle at 10333.
The port city bourse traded 8.41 million shares and mutual fund units, with a turnover of Tk 201.73 million.
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