12:00 AM, February 05, 2014 / LAST MODIFIED: 01:53 AM, March 08, 2015

Stocks break four-day gaining streak

Stocks break four-day gaining streak

Star Business Report

Stocks returned to the red yesterday, breaking a four-day gaining streak, as investors sold shares and mutual fund units to pocket profits.
DSEX, the benchmark general index of the Dhaka Stock Exchange, closed the day at 4,809.54 points after falling 16.97 points or 0.35 percent.
DSES, the shariah index of the DSE, closed the day at 979.71 points after declining 1.81 points or 0.19 percent.
Investors witnessed cautious trading with the market gauge crossing 4,800 points for the first time since its launch, LankaBangla Securities said in its regular market analysis.
The capital market recorded Tk 278 crore in net foreign investments in January, which is an eight-month high, the stockbroker said, adding that low prices of fundamentally strong stocks lured foreign investors last month.
Turnover, the most important indicator of the market, declined 4 percent to Tk 771 crore from the previous day.
An aggregate of 1.59 lakh traders were executed with 21.27 crore shares and mutual fund units changing hands on the Dhaka bourse.
Losers took a lead over the gainers as 112 advanced, 163 declined and 17 remained unchanged out of the 292 issues that traded on the port city bourse.
All major sectors ended the day in the red except foods, which gained 1.02 percent because of 1.91 percent price appreciation of large-cap British American Tobacco Bangladesh. Non-bank financial institutions lost the most, 1.52 percent, followed by power 0.77 percent, telecoms 0.69 percent, pharma 0.63 percent and banks 0.10 percent respectively.
Meghna Petroleum from the power sector saw the highest liquidity with 10.67 lakh shares worth Tk 29 crore changing hands, followed by Mercantile Bank and United Commercial Bank.
Desh Garments was the highest gainer of the day, posting a rise of 9.54 percent, while GSP Finance was the worst loser, plunging by 14.76 percent.
The Chittagong Stock Exchange also declined yesterday with its selective categories index, CSCX, declining 38.83 points to close the day at 9,494.51.
Losers took a strong lead over the gainers 133 to 81 with 20 issues remaining unchanged on the port city bourse that traded 2.36 crore shares and mutual fund units with Tk 69 crore in turnover.


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