Stocks see marginal correction

Stocks see marginal correction on Monday for the second consecutive session with turnover falling further as most of the investors preferred to book profit with cautious trading.

The market opened with a downward trend and the downturn sustained throughout the session amid choppy trading. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 11.21 points or 0.23 per cent to settle at 8.775.27.

The two other indices also closed in the red. The DS30 index, comprising blue chips, lost 7.64 points or 0.40 per cent to finish at 1,869.25. The DSE Shariah Index (DSES) dropped 4.12 points or 0.34 per cent to close at 1,182.67.

Turnover came down to Tk 6.48 billion on the main bourse, which was 14 per cent lower than the previous day`s Tk 7.54 billion.

The participants kept their focus concentrated on power, pharma and engineering - the sectors that accounted for 20 per cent, 17 per cent and 14 per cent respectively of the day`s total turnover.

"Market remained in balance and recorded slight losses affected by overall business results posted on Dhaka Stock Exchange (DSE) website," said LankaBangla Securities, a stockbroker, in an analysis.

The port city bourse Chittagong Stock Exchange (CSE) also faced marginal correction with its Selective Categories Index - CSCX - lost 25.07 points to close at 8,907.

Losers beat gainers 131 to 83, with 29 issues remained on the port city bourse that traded 12.13 million shares and mutual fund units with a value of Tk 465 million.