Stocks go down on profit-booking

Shares on the Dhaka Stock Exchange fell yesterday after gains for two consecutive days as investors booked profits largely in the banking and telecom securities.

The DSEX, the benchmark index of the premier bourse, declined 30.18 points, or 0.51 percent, to finish the day at 5,813.28.

The market started the day with a positive vibe but the morning buoyancy did not sustain in the end as investors undertook the profit-taking stance, said EBL Securities in its market review.

Turnover, another important indicator of the market, dropped 14.73 percent to Tk 492.41 crore, with 13.61 crore shares and mutual fund units changing hands.

Of the traded issues, 113 advanced, 188 declined and 37 closed unchanged.

Beximco dominated the turnover chart with its 1.47 crore shares worth Tk 46.75 crore changing hands, followed by Al-Arafah Islami Bank, Brac Bank, Grameenphone and United Power Generation.

Among the major sectors, telecom took the biggest blow losing 2.50 percent. Life insurance shares fell 1.67 percent, pharmaceuticals 0.69 percent, banking 0.37 percent and engineering 0.36 percent.

On the other hand, shares of the information technology and fuel and power sectors rose 1.12 percent and 0.23 percent respectively.

Sonali Aansh was the day's best performer with 8.74 percent gain, followed by Rahim Textile, Renwick Jajneswar and Monno Jute Stafflers.

FAS Finance was the worst loser, shedding 11.94 percent; there was no circuit breaker on it as yesterday was the first trading day after its earnings declaration on Thursday.

Pubali Bank, Advent Pharma and National Tea Company were among the worst losers.

Chittagong stocks fell with the bourse's benchmark index, CSCX, declining 59.31 points, or 0.5 percent, to finish at 10,825.79.

Losers beat gainers as 141 declined and 64 advanced, while 31 finished unchanged on the Chittagong Stock Exchange. The port city bourse traded 92.42 lakh shares and mutual fund units worth Tk 21.97 crore.