Dhaka stocks ended in a negative zone on Monday as investors went for profit-taking sales after a four-day gaining streak including yesterday’s surge in share prices.
DGEN, the benchmark general index of Dhaka Stock Exchange, lost 0.36 per cent, or 16.82 points, to close the day at 4,548.89 points.
The DGEN gained 209 points in the previous four trading sessions, including a 135.21-point rise on Sunday.
Turnover of the bourse declined to Tk 951.84 crore on Monday from that of Tk 1,136.34 crore in the day before.
Market operators said the investors went for sell-offs to book profits on Monday after a sharp rise in share prices in the day before and gains in the previous three
sessions.
They also said the market looked good on Monday as the investors started to move on different sectors rather getting stuck within a few scrips.
Among the major gaining sectors, cement sector gained the most — by 4.64 per cent and mutual funds by 3.83 per cent.
Bank shares, which moved the market on Sunday, declined by 0.05 per cent on the day.
‘The turnover is still very optimistic,’ said a stockbroker.
He said the market situation was good but the retail investors were still very sceptical about the uptrend and they were selling shares with marginal profits within
the shortest possible time.
‘This lack of confidence among the investors could not be averted due to the market crash and prolonged depression. But, it is hindering the long-term proposition of
the market,’ he said.
Courtesy of New Age
