Investors were focused on buying shares during the early hours of trade, but then put sell pressure on large cap stocks like banks and financial institutions
The Dhaka bourse recorded the highest turnover today in one year but indices faced losses.
Turnover at the DSE stood at Tk1,021.3 crore, 4.6 percent higher from Tk976.4 crore in the previous session. The turnover amount last crossed Tk1,000 crore in January 2019.
The prime index of the Dhaka Stock Exchange – DSEX – declined by 28 points or 0.6 percent to close the day at 4,740 points.
DSES, the Shariah-based index, also lost 2 points or 0.2 percent to settle at 1,081 points, while DS30, the blue-chip index, shed 8 points or 0.5 percent to stand at 1,591 points.
At the Chittagong Stock Exchange, Caspi – the benchmark index – slid by 25 points or 0.2 percent to close at 14,505 points.
The market started the trading session with a growth momentum, but failed to hold the upsurge. During the mid-session, it again experienced a slight growth, but then faced a sharp decline till the end of the session.
Investors were focused on buying shares during the early hours of trade, but then put sell pressure on large cap stocks such as banks and financial institutions.
Brokers told The Business Standard that investors adopted a profit booking strategy during the mid-hours of the trading session, and continued to take profits till the last hour, which resulted in the market fall today.
Among the other large-cap stocks, telecom experienced gains, as Grameenphone – the stock with the largest market capitalization – gained 1.5 percent price.
Turnover at the port city bourse recorded a massive gain of 278 percent from Tk19.4 crore to Tk73.4 crore today.
Textile stocks contributed the highest, 14.8 percent, to the total turnover value, followed by engineering stocks adding 13.8 percent, and pharmaceutical stocks adding 12.9 percent.
Summit Power Ltd dominated the turnover chart with a turnover value of Tk42.2 crore, closing the day at Tk44.1 per share. The stock was followed by Lafarge Holcim Bangladesh Ltd with a turnover value of Tk24.5 crore, closing at Tk48.9 per share.
The ICB AMCL Sonali Bank Ltd 1st Mutual Fund was the best performer in the gainers' table, advancing 10 percent, and closing at Tk7.7 per share.
The Shyampur Sugar Mills Ltd was the day's worst loser after shedding 7.7 percent and closing at Tk26.2 per share, said the DSE website.
Losers outnumbered the gainers, as out of 355 issues traded, 132 advanced, 188 declined, and 35 remained unchanged on the DSE trading floor.