Dhaka stocks ended marginally lower on Tuesday as late-session selling erased early gains, with investors remaining cautious over weaker earnings prospects of June-closing companies.
The broad-based index DSEX of the Dhaka Stock Exchange (DSE) fell 1.5 points, or 0.03 per cent, to close at 5,524, compared with 5,526 in the previous session.
The market opened higher and remained in positive territory for most of the session before slipping into negative territory in the final hour as selling pressure intensified, EBL Securities wrote in its post-closing market commentary.
It attributed the cautious sentiment to concerns over weaker corporate earnings of companies whose financial year ended in June.
Stock brokers also said the quarter-end profit booking added to the recent selling pressure.
Trading activity also weakened, with turnover on the DSE declining 15 per cent to Tk634.50 crore from Tk746.50 crore in the previous session.
The number of trades fell 11.8 per cent to 1,72,615, while trading volume declined 11.2 per cent to 20.8 crore shares.
The blue-chip DS30 index edged down by 3.3 points to 2,095, while the SME-focused DSMEX index declined 21.7 points, or 2.1 per cent, to 1,016.
DSE market capitalisation fell 0.3 per cent to Tk6.85 lakh crore.
Textile stocks dominated trading, accounting for 28.8 per cent of total turnover, followed by general insurance with 18.2 per cent and pharmaceuticals and chemicals with 10.6 per cent.
Sector performance remained mixed. Textiles and travel gained 1.3 per cent each, while cement advanced 0.7 per cent.
On the losing side, paper and printing declined 1.6 per cent, while information technology and mutual funds fell 0.9 per cent each.
Of the 395 issues traded, 140 advanced, 168 declined and 87 remained unchanged, showing broader selling pressure despite the marginal fall in the benchmark index.
Saiham Textile Mills topped turnover with shares worth Tk33.71 crore changing hands. IPDC Finance followed with Tk21.68 crore, while Saiham Cotton Mills recorded Tk18.50 crore in turnover.
Paramount Textile, Orion Pharma, Sharp Industries, Apex Spinning Mills, Reliance Insurance, BRAC Bank and Malek Spinning Mills were also among the most actively traded stocks.
MIDAS Financing led the gainers, rising 8.70 per cent, followed by Saiham Cotton Mills with a 7.62 per cent gain and Premier Cement with 6.17 per cent.
Sena Insurance advanced 6.09 per cent, while Dulamia Cotton and BD Thai Food gained 5.88 per cent and 5.82 per cent, respectively.
Hamid Fabrics was the biggest loser, falling 6.72 per cent. Peoples Leasing and Financial Services declined 5.88 per cent, Premier Leasing & Finance dropped 5 per cent, while Vanguard AML Rupali Bank Balanced Fund and Orion Fusion fell 4.65 per cent and 4.58 per cent, respectively.
