Stocks slip on profit-booking
Stocks returned to the red as investors sold off shares and mutual fund units to pocket profits yesterday.
DSEX, the prime index of Dhaka Stock Exchange, shed 3.66 points or 0.07 percent to end at 4,709.91 points.
The shariah index of the Dhaka bourse, DSES, fell 1.90 points or 0.17 percent, to close at 1,110.72.
The market saw mild corrections as investors went for some quick-profit booking, said LankaBangla Securities.
“The market slowed a bit after last few days' buying spree amid profit booking and sector reallocation by investors,” IDLC Investments said.
Of 300 traded stocks, only 16 rose more than 3 percent, whereas 52 lost more than 3 percent from the previous day.
Among large-cap sectors, non-banking financial institutions were the only sector to close lower with 0.24 percent loss.
Turnover, the most important indicator of the market, declined 20.28 percent to Tk 668 crore, compared to the previous day.
A total of 1.27 lakh trades were executed with 12.56 crore shares and mutual fund units changing hands on the premier bourse.
Among the large-cap sectors, telecoms accelerated with the highest gain of 1.24 percent followed by pharma with 0.31 percent; food and allied 0.82 percent; and power 0.19 percent. Banks closed flat.
Losers beat gainers by 172 to 83, as 45 out of the 300 issues that traded on the DSE remained unchanged.
MJL Bangladesh featured among the most-traded stocks for the second session with 34.56 lakh shares worth Tk 45 crore changing hands, followed by Grameenphone, Beximco Pharma, Padma Oil and BSRM Steels.
Safko Spinning Mills was the day's highest gainer for the third day, posting an 8 percent rise, while Rupali Life Insurance was the worst loser, slumping 6.93 percent.
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