Stocks slipped into the red on Tuesday, snapping a six-day rally, as shaky investors preferred to book profit on quick-gaining stocks.
Following the record-breaking rally in the past six straight sessions, the Dhaka bourse opened higher, but profit booking sell-offs in sector-wise stocks wiped out the early gains.
Market experts said the cautious investors booked some profit on stocks that saw a significant gain in the past few trading days, taking the market into the red territory.
The witnessed moderate correction as risk-averse investors booked profits on sector-wise stocks, said a merchant banker.
Two other indices also edged lower after hitting a record high in the previous day with the DSE 30 Index, comprising blue chips, fell 8.52 points to finish at 2,384 and the DSE Shariah Index (DSES) shed 9.64 points to close at 1,442.
Turnover, a crucial indicator of the market, registered at Tk 28.40 billion, it's third single-day highest, which was 3.36 per cent lower than the previous day’s second-highest of Tk 29.39 billion.
The all-time-high turnover on the DSE was Tk 32.49 billion recorded on December 5, 2010, when the market saw a bull run before a crash.
Beximco - the flagship company of Beximco Group- continued to dominate the turnover chart with shares worth Tk 1.67 billion changing hands, followed by IFIC Bank (Tk 1.04 billion), LafargeHolcim Bangladesh (Tk 653 million), Orion Pharma (Tk 548 million) and Appollo Ispat (Tk 426 million).
National Housing Finance & Investment was the day’s top gainer hitting the upper limit circuit breaker with a 10 per cent rise, closely followed by Islamic Finance & Investment Ltd, IPDC Finance Limited, Ratanpur Steel Re-Rolling Mills Limited, International Leasing & Financial Services Ltd, IFIC Bank Ltd, Bay Leasing & Investment Limited, The ACME Laboratories Limited, Rahim Textile Mills Ltd and Premier Cement Mills Limited.
Dacca Dyeing was the worst loser, losing 8.61 per cent, closely followed by Emerald Oil Industries Ltd, Golden Harvest Agro Industries Ltd, AFC Agro Biotech Ltd, Beacon Pharmaceuticals Limited, Paper Processing & Packaging Limited, Sonali Paper & Board Mills Ltd, Salvo Chemical Industry Limited, Fine Foods Limited and Nurani Dyeing & Sweater Limited.
A total number of 392,759 trades were executed in the day’s trading session with a trading volume of 941.70 million shares and mutual fund units.
The Chittagong Stock Exchange (CSE) also edged lower with the CSE All Share Price Index – CASPI –losing 7.93 points to settle at 19,281 and the Selective Categories Index – CSCX shedding 7.83 points to close at 11,566.
Of the issues traded, 181 declined, 132 advanced and 17 issues remained unchanged on the CSE.