Stocks break gaining streak

Stocks on Wednesday witnessed a downward trend after showing two days of positive trend as investors preferred to realize their short-term gains.

DSEX, the broad index of the Dhaka Stock Exchange (DSE), lost 16.4 points or 0.3% to settle at 5,208 points, as against 5,225 points in the previous trading session.

Market analysts observed that despite beginning the trading session with buyers and sellers trying to grab the realm of the market momentum, profit-taking gained momentum gradually and led the sellers to show their dominance across the trading floor.

Market turnover also declined by 10.6% to BDT 4.0 billion as against Taka 4.5 billion in the previous session. On the sectoral front, Pharma (21.1%) issues exerted the highest turnover, followed by Textile (10.5%) and Telecom (9.2%) sectors.

Most of the sectors displayed negative returns, out of which Financial Institutions (-2.8%), Ceramic (-1.6%) and Jute (-1.5%) exhibited the most negative returns on the bourse today.

Out of the 397 issues traded, 78 advanced, 252 declined and 67 remained unchanged.

The port city bourse, CSE, also witnessed a negative session today. The selected indices (CSCX) and All Share Price Index (CASPI) declined by 18.7 points and 11.5 points, respectively.