The Dhaka bourse Monday ended flat in red as major sectors witnessed price correction amid investors' reduced participation.
At the end of the day's session, the DSEX, the broad index of Dhaka Stock Exchange (DSE), shed 0.07 per cent or 3.94 points and closed at 5,529.50.
The shariah-based index DSES lost 0.16 per cent or 2.05 points to close at 1,275.95, while the blue chip index DS30 went down by 0.10 per cent or 2.17 points to close at 2035.60.
According to a market review of International Leasing Securities, ceramic, engineering and financial institution sector stocks witnessed buoyancy, but selling frenzy observed in bank, cement and fuel & power sector stocks have contributed to the plunge in indices.
The session started with selling pressure and later a recovery stance was observed within the first hour.
"The recover stance failed to sustain and ultimately the market closed with a slight correction than the preceding day," the International Leasing Securities said, adding that the market closed in flat amid reduced participation of the investors.
Of total issues traded, 144 advanced, 133 declined and 45 were unchanged on the premier bourse.
The turnover stood at above Tk 6.32 billion which was 14.27 per cent less than the turnover of the previous session.
Of the total turnover, Tk 207 million came from transactions executed in block board.
"Risk-averse investors opted to book quick gain on stocks, especially from bank and fuel & power sectors, while some prudent investors were busy in rebalancing their portfolios," said another market review of EBL Securities.
Among the gaining sectors, ceramic advanced 0.8 per cent, engineering 0.3 per cent, financial institutions 0.3 per cent, life insurance 0.7 per cent, service & real estate 1.7 per cent and miscellaneous 0.3 per cent.
Among the declining sectors, bank lost 0.5 per cent, fuel & power 0.5 per cent, mutual fund 0.1 per cent, tannery 0.2 per cent, telecommunication 0.1 per cent and textile 0.2 per cent.
Investors' activities were concentrated mostly on financial institutions which contributed 16.80 per cent in market turnover followed by textile 15.50 per cent, bank 13.90 per cent, fuel & power 11.90 per cent, engineering 10.80 per cent and pharmaceuticals & chemicals 9.50 per cent.
Argon Denims topped the turnover chart with a value of Tk 202 million followed by United Power Generation and Distribution Company Tk 188 million, LankaBangla Finance Tk 169 million, FAS Finance & Investment Tk 149 million and Doreen Power Tk 149 million.
FAS Finance & Investment was the number one gainer with a rise of 9.82 per cent to close at Tk 19, while DBH First Mutual Fund was the number one loser after declining 7.05 per cent to close at Tk 7.90.
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Source: The Financial Express