B Mirror Report: Stocks returned to correction territory today as continued selling pressure on major shares wiped out the modest gains recorded over the previous three trading sessions.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) dropped 19 points to close at 5,226, down from 5,245 in the previous session.

Although the market opened on a positive note, selling pressure gradually intensified throughout the session, dragging the indices into negative territory by the close.

Market turnover also declined sharply, falling 12.9 percent to Tk 8.7 billion from Tk 10 billion in the previous trading session.

Among the major sectors, pharmaceuticals accounted for the highest share of turnover at 14.5 percent, followed by general insurance at 14.2 percent and engineering at 12.7 percent.

Most sectors ended lower during the session. The services sector recorded the highest loss, declining 2 percent, while the IT and life insurance sectors fell 1.2 percent and 1.1 percent respectively. On the other hand, financial institutions gained 4.2 percent, while jute and travel sectors posted modest gains.

Out of 396 traded issues on the DSE, 117 advanced, 222 declined and 57 remained unchanged.

Meanwhile, the Chittagong Stock Exchange (CSE) also closed in the red. The Selective Categories’ Index (CSCX) fell by 33.1 points, while the All Share Price Index (CASPI) lost 40 points at the end of trading.