Stocks fall after roller coaster ride

Dhaka Stock Exchange experienced a roller coaster ride on Monday as the benchmark DSEX index climbed in early hours and plunged in mid-session before closing lower.

Earlier, trading kicked off on a flat note and a rally in initial hours helped the KSE-100 index hit 6,061. In the final hours, however, profit-booking emerged as investors offloaded stocks at a rapid pace, which pulled the market down and wiped out all the gains.

At close, the DSEX recorded a decrease of 22 points, or 0.37%, to settle at 6,013.

Other indices, the Shariah-based DSES index fell almost 9 points or 0.68 percent to 1,284 and the blue-chip DS30 index moved down 19 points or 0.89 percent to 2,172.

Ceramics, mutual funds, services and real estate, IT, textile, life insurance, telecommunications, and pharmaceuticals sectors mostly faced selling pressure. On the other hand, general Insurance, bank and NBFI sectors experienced price appreciation.

Turnover declined by 15.90 percent to Tk 1740 crore. The general insurance sector dominated the turnover chart covering 21.10 percent of total turnover.