Dhaka stocks declined in volatile trading on Thursday after gain in the previous three trading sessions with decline in turnover due to profit-taking selling pressure.
The benchmark general index of the Dhaka Stock Exchange, DSEX, declined by 0.57 per cent, or 23.58 points, to finish at 4,079.80 points.The key index had gained 220.58 points in the last three trading sessions after losing 165.22 points in the previous two.
The turnover of the DSE declined to Tk 593.49 crore from Wednesday’s turnover of Tk 752.30 crore.
On Wednesday the turnover of the DSE hit eight-month high.
Market operator said out of the last 13 trading sessions the price indices of the DSE gained for 11 trading sessions, prompting a section of investors to book some profits.
The day’s market movement also indicated that still a section of investors was buying shares which might prevent the market from a massive fall, they also said.
DGEN, the old benchmark general index of the DSE, declined to 4,299.66 points, shedding 0.66 per cent or 28.81 points on Thursday.
The DGEN had gained 196.88 points in the last three trading sessions after losing 177.02 points in the previous two.
The blue-chip index of the bourse, DS30, declined by 0.44 per cent, or 6.79 points, to finish at 1,505.58 points.
‘Though the market lost today [Thursday], investors took it positively as most believed that intermediate correction would be beneficial for continuation of a bullish sentiment,’ IDLC Investments said in its daily market commentary.
‘As the short-term rhythmic bullish movement faced some resistance due to net selling pressure, a cautious movement initiated during today’s session,’ it also said.
Of the 28 issues traded on the day, 144 advanced, 121 declined, and 23 remained unchanged.
General insurance sector gained the most on the day as the share price of the sector gained by 3.46 per cent on the day.
Cement sector lost the most as its share price lost 1.57 per cent, while banks sector lost 1.33 per cent.
Bangladesh Submarine Cable Company led the turnover chart on the day with its shares worth Tk 27.72 crore changing hands.
ICB AMCL Sonali Bank Limited First Mutual Fund gained the most on Thursday as its share price increased by 11.88 per cent, while Apex Adelchi Footwear lost the most — 6.79 per cent.
-With New Age input