Dhaka stocks fell on Monday after adding 786.64 points in the previous four sessions, as a section of investors chose to sell shares to book profits after the surge, market operators said.
The key index of the Dhaka Stock Exchange, DSEX, decreased by 83.62 points, or 1.39 per cent, to close at 5,932.27 points, after gaining 91.09 points in the previous session.
The key index of the Dhaka bourse crossed the 6,000-point mark on Sunday after five months.
The total turnover of the DSE also dropped on Monday. The DSE posted Tk聽1,143.02 crore in its total turnover on the day compared with that of Tk 2,010.08 crore in the previous session.
The total turnover in the previous session was the highest after September 20, 2022 when it was Tk聽2,832.30 crore.
The key index had started rising after August 5, following Sheikh Hasina鈥檚 resignation as prime minister on August 5 and fleeing from the country, ending her 15-year rule amid an unprecedented student-led mass uprising against her authoritarian regime.
Saiful Islam, president of the DSE Brokers Association of Bangladesh, said that the market rose by more than 700 key index points.
鈥楳onday鈥檚 fall was an expected correction of the market,鈥� Saiful, also the managing director of BRAC EPL Stock Brokerage, said.
Md Saifuddin, managing director of IDLC Securities Limited, said that profit booking was one of the reasons for Monday鈥檚 fall.
鈥楨conomic indicators in the country were also behind the fall. They are still in a bad condition, which puts the investors into confusion whether to invest in the market or not,鈥� he said.
Market operators said that the market had been in a bad shape for a long period, but it rebounded after the changes in the country鈥檚 political landscape.
They said that whether the current trend of the market would sustain or not would depend on the commitment of the new administration.
Of the 403 issues traded on Monday, 53 advanced, 337 declined and 13 remained unchanged.
The DSE Shariah index decreased by 14.46 points, or 1.12 per cent, to close at 1,270.81 points on the day.
The DS30 index lost 30.81 points, or 1.41 per cent, to finish at 2,153.53 points.
On the sectoral front, bank issues exerted the highest turnover, followed by the pharmaceutical and telecom shares.
EBL Securities in its daily commentary said, 鈥楾he market induced volatility right from the start of Monday鈥檚 session as investors remained active on both sides of the trading fence, while sellers ended up on the dominant side that ultimately pulled the reins to the heated-up market.鈥�
Grameenphone topped the turnover chart on the day with its shares worth Tk 113.13 crore changing hands.
BRAC Bank, Techno Drugs, Robi Axiata, IFIC Bank, British American Tobacco Bangladesh, Square Pharmaceuticals, AB Bank, Keya Cosmetics and Alif Industries were the other turnover leaders.