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Stocks plunged on Monday, snapping a two-day gaining streak due to profit booking sell-offs.
DSEX, the prime index of Dhaka Stock Exchange, slid 53 points or 0.78 per cent to settle at 6,718, after gaining over 18 points in the past two consecutive sessions.
Two other indices also ended lower. The DSE 30 Index, comprising blue chips, fell 19.25 points to finish at 2,468 and the DSE Shariah Index (DSES) lost 8.88 points to close at 1,462.
Turnover, the crucial indicator of the market, fell below Tk 7.0 billion-mark after 10 sessions and amounted to Tk 6.20 billion, which was 26 per cent lower than the previous day's tally of Tk 8.36 billion.
Market analysts said the ongoing dismal market trend, despite regulatory efforts, prompted the cautious investors to book profit on major sector stocks.
"The nervous investors converted their investments into cash fearing the price hike of necessities during the Ramadan and the worldwide ongoing economic turmoil," said International Leasing Securities.
According to EBL Securities, the market failed to retain the upward momentum as some investors are taking a cautious stance and favoured engaging in profit booking in the ongoing bearishness of the market.
The regulatory efforts failed to boost market liquidity as most investors remained shaky amid the rising cost of living and potential adverse impacts on the country's economy due to the ongoing Russia-Ukraine war, said a merchant banker.
All major sectors faced corrections with cement witnessing the highest loss of 1.30 per cent, followed by telecom with 1.20 per cent, banking 0.80 per cent, financial institutions 0.70 per cent, food 0.70 per cent, power 0.50 per cent, engineering 0.40 per cent and pharma 0.20 per cent.
Losers took a strong lead over the gainers as out of 381 issues traded, 296 declined, 46 advanced and 39 issues remained unchanged on the DSE trading floor.
IPDC Finance topped the turnover list for the second straight session with shares worth nearly Tk 509 million changing hands, followed by VFS Thread Dyeing (Tk 301 million), Beximco (Tk 296 million), LafargeHolcim (Tk 176 million) and Nahee Aluminum (Tk 169 million).
The newly listed JMI Hospital Requisite Manufacturing was the top gainer, posting a 9.91 per cent gain, while Fortune Shoes was the day's worst loser, losing 2.0 per cent.
The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index - CASPI -losing 124 points to settle at 19,700 and the Selective Categories Index - CSCX -shedding 75 points to close at 11,818.
Of the issues traded, 197 declined, 48 advanced and 37 issues remained unchanged on the CSE.
The port-city bourse traded 5.68 million shares and mutual fund units with turnover value worth over Tk 145 million.