Stocks fall on profit booking
Stocks snapped the gaining streak of the last three consecutive sessions and fell 0.68 percent yesterday, as investors went for profit booking.
The benchmark index of the Dhaka Stock Exchange lost 39.99 points before closing the day at 5,790.
The downturn kept the investors at bay, leading to a slump in turnover, market insiders said.
The daily turnover stood at Tk 914 crore at the end of the trading, a decline by 30.77 percent from the previous day.
The turnover hit a four-month high of Tk 1,320 crore on Tuesday when the key index reached 5,830 points, the highest ever.
The fall in the index was expected as the market was going upward since the beginning of the week making records in turnover, a senior executive of a merchant bank said. Investors' active participation kept the turnover buoyant since the opening of the market after the Eid vacation, he said.
Retail investors went for booking profits yesterday, which triggered a selling pressure in the market, he added.
The index fluctuated between 5,840 and 5,820 points in the first half of the session, LankaBangla Securities said in an analysis.
In the last half of the session, the index kept falling and closed the day in the red at 5,790.79 points, according to the analysis.
Only 3 out of 20 sectors gained yesterday with food and allied registering a 0.75 percent gain.
At the premier bourse, 65 securities gained, 232 declined and 33 remained unchanged.
Keya Cosmetics topped the turnover list yesterday. Its shares gained Tk 0.1 or 0.55 percent to close at Tk 18.20 with issues worth Tk 74.76 crore of the cosmmetics-maker changing hands.
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