Market enters red zone as investors shift position

The Dhaka stocks after two sessions of consecutive rise entered the red zone on Thursday amid investors' tendency of shifting position and bagging profits.

The DSE broad index DSEX closed at 5726 points shedding 10 points from the closing mark of the previous session. According to MTB capital, the market slipped into red zone after previous two sessions' bumpy rides with an improved turnover.

The DSE shariah index DSES gained 0.04 points to close at 1301.47 points whereas the blue-chip index DS30 declined 0.46 point to close at 2076.66 points.

At the end of the session, the turnover stood at above Tk 10.40 billion which was 19.33 per cent less than the turnover of the previous session.

Of the total turnover, Tk 349 million came from transactions executed in block board. Of the 328 issues traded, 130 advanced, 154 declined and 44 stayed unchanged on the premier bourse.

According to the EBL Securities, the premier bourse closed in flat negative zone amid 'watchful' movement.

Among the declining sectors, bank lost 1.1 per cent, fuel & power 0.2 per cent, general insurance 0.4 per cent, service & real estate 0.7 per cent and travel & leisure 0.5 per cent.

Among the gaining sectors, engineering advanced 0.2 per cent, life insurance 3.4 per cent, miscellaneous 0.8 per cent and textile 0.2 per cent.

Investors' activities were concentrated mainly on banking sector which captured 26.30 per cent of the market turnover followed by textile 15.10 per cent, engineering 12.70 per cent, pharmaceuticals & chemicals 10.90 per cent and miscellaneous 7.7 per cent.

Beximco topped the turnover chart with a value of Tk 535 million followed by City Bank Tk 370 million, AB Bank Tk 302 million, National Bank Tk 300 million and LankaBangla Finance Tk 295 million.