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Stocks slipped into the red on Monday, snapping a three-day gaining streak, as investors opted for profit-motivated sell-offs.
Brokers said the market faced selling pressure as investors opted for profit booking in sector specific securities after witnessing sharp gain in the past three days.
The market started on negative trend and the downward trend continued until end of the session with no sign of reversal.
At the end of the session, DSEX, the prime index of the DSE, went down by 52.82 points or 0.98 per cent to settle at 5,342, after adding 219 points in the past three consecutive sessions.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 20.45 points to finish at 1,881 and the DSE Shariah Index lost 6.97 points to close at 1,233.
Turnover, another important indicator of the market, , also fell to Tk 4.67 billion, which was 13 per cent lower than the previous day’s nwaely two monmths’ highest turnover of Tk 5.35 billion.
The losers took a strong lead over the gainers as out of 345 issues traded, 258 declined, 60 advanced and 27 issues remained unchanged on the DSE trading floor.
A total number of 134,228 trades were executed in the day’s trading session with trading volume of 134.70 million securities.
The market capitalisation of the DSE also fell to Tk 3,930 billion on Monday, from Tk 3,960 billion in the previous day.
Fortune Shoes topped the turnover chart with 9.33 million shares worth Tk 359 million changing hands.
The other turnover leaders were Esquire Khit Composite, National Polymer, Legacy Footwear and Monno Ceramic Industries.
SS Steels was the day’s best performer, posting a gain of 9.79 per cent while Tung Hai Knitting & Dyeing was as the worst loser, losing 8.89 per cent.
The port city bourse, Chittagong Stock Exchange, also ended lower with its CSE All Share Price Index – CASPI –shedding 108 points to settle at 16,394 points and the Selective Categories Index - CSCX –losing 63 points to finish at 9,925.
Here too, the losers beat gainers, as 167 issues closed lower, 54 ended higher and 15 remained unchanged on the CSE.
The port city bourse traded 7.78 million shares and mutual fund units worth Tk 203 million in turnover.