Dhaka stocks extended their decline for the second consecutive session on Sunday as investors continued selling shares amid profit-taking and concerns over the sustainability of the recent market recovery.
Dhaka Stock Exchange’s (DSE) broad-based benchmark DSEX fell 0.8 per cent to 5,533, compared with 5,578 in the previous trading session.
“The market remained under selling pressure throughout the session, with investors showing limited conviction over the recent upward trend and taking a cautious stance ahead of the upcoming earnings season,” EBL Securities wrote in its post-closing market commentary.
The blue-chip DS30 index also declined 12.8 points, or 0.6 per cent, to 2,099 from 2,112 a day earlier. In contrast, the SME-focused DSMEX index gained 6 points, or 0.6 per cent, to close at 1,037.
Turnover fell 3.8 per cent to Tk727.40 crore from Tk756.30 crore in the previous session. However, trading activity increased in terms of volume, with 25.4 crore shares changing hands against 23.8 crore previously.
Of the 395 issues traded, 75 advanced, 273 declined and 47 remained unchanged.
Textiles accounted for the largest share of turnover with 19.2 per cent, followed by general insurance with17.1 per cent and pharmaceuticals and chemicals with 14.7 per cent of the daily total in the premier bourse.
Mutual funds contributed 11.5 per cent of total turnover.
Jute and mutual funds were the top-performing sectors, gaining 2.8 per cent each, while general insurance advanced 0.6 per cent.
Cement declined 3.3 per cent, followed by life insurance at 2.2 per cent and IT at 1.9 per cent.
IPDC Finance led turnover with shares worth Tk25.39 crore changing hands.
SIPLC followed with Tk22.15 crore, Asiatic Laboratories with Tk20.86 crore, Orion Infusion with Tk20.56 crore and Bangladesh National Insurance Company with Tk19.96 crore.
Prime Bank 1st ICB AMCL Mutual Fund was the top gainer, rising 9.86 per cent, followed by CAPM IBBL Islamic Mutual Fund, which gained 9.66 per cent, and ICB AMCL First Agrani Bank Mutual Fund, which advanced 7.23 per cent.
Shyampur Sugar Mills was the biggest loser, declining 7.22 per cent. Meghna Condensed Milk fell 6.10 per cent, while C & A Textiles shares declined 6.06 per cent.
