Dhaka stocks dropped for the second day on Thursday with the turnover on the Dhaka Stock Exchange plunging, as a section of investors went for profit booking while the others remained on the sidelines, market operators said.
The DSE turnover decreased by 302.94 crore on the day to stand at Tk聽664.28 crore on Thursday compared with that of Tk聽967.22 crore in the previous session.
The key index of the Dhaka bourse dropped by 61.66 points, or 1.10 per cent, to close at 5,506.78 points on the day after losing 26.19 points in the previous session.
Market operators said that investors opted for a cautious approach and were closely monitoring the market, as there was lack of any clear indications of a sustained upward trend on the market.
They said that a section of investors went for selling shares to book some profits after a six-day rise.
In the past 20 weeks, the DSE moved forward in only six weeks.
Of the 397 issues traded on Thursday, 36 advanced, 343 declined and 18 remained unchanged.
The DSE Shariah index decreased by 11.94 points, or 0.97 per cent, to close at 1,207.53 points on the day.
The DS30 index lost 15.77 points, or 0.80 per cent, to finish at 1,942.35 points.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by the engineering and food shares.
EBL Securities in its daily commentary said, 鈥楾he market pulse shifted to an intense downbeat vibe after the first hour of Thursday鈥檚 session, with the majority of scrips sliding into the red territory as cautious investors preferred to reduce their capital market exposure owing to concerns regarding the market outlook.鈥�
Sea Pearl Beach Resort & Spa Beach Hatchery topped the turnover chart on the day with its shares worth Tk聽24.50 crore changing hands.
Salvo Chemical Industry, Orion Infusion, Taufika Foods and Lovello Ice-cream, Alif Industries, Aftab Automobiles, Oimex Electrode, Global Heavy Chemicals, Sunlife Insurance and Deshbandhu Polymer were the other turnover leaders.
