Stocks slump for profit-taking snaps

Stocks retreated on Sunday, ending a two-session gaining streak as investors booked profits in recently appreciated shares, outweighing selective buying in fundamentally strong stocks.

The broad index of the Dhaka Stock Exchange (DSE), DSEX, fell by 21.5 points to close at 5,640 points, down from 5,661 points in the previous trading session, according BSS reports.

Market analysts said the bourse remained under selling pressure from the opening bell, with widespread profit-taking gathering pace throughout the day and dragging most listed securities into negative territory. Turnover on the DSE declined by 16.3 percent to Tk 1000 crore from Tk 1190 crore in the previous session, reflecting reduced trading activity.