Stocks trip to red
Stocks slumped to the red yesterday to break a four-day gaining streak, as investors sold shares and mutual fund units to bag profits.
DSEX, the benchmark general index of the Dhaka Stock Exchange, fell 24.79 point, or 0.46 percent, to close at 5,309.24. The shariah index of the Dhaka bourse, DSES, rose 3.42 points, or 0.28 percent, to close at 1237.74.
The market gained 283.7 points in the last four days.
The market slowed a bit after the last few days' buying spree, owing to profit booking and sector reallocation by investors, analysts said.
Investors should take profit as a number of companies are on the way to becoming overheated in terms of price, they added.
Turnover, one of the important indicators of the market, advanced 10.1 percent from the previous day to Tk 1,007 crore.
A total of 1.86 lakh trades were executed, with 25.44 crore shares and mutual fund units changing hands on the DSE floor.
Of the 305 issues that traded on the premier bourse, 152 declined, 128 gained and 25 remained unchanged.
Among the major sectors, power gained 0.8 percent, banks 1.4 percent and pharma 1.2 percent. Non-life insurance declined 1.8 percent.
MJL Bangladesh was the most liquid stock of the day: some 25.92 lakh shares worth Tk 39 crore changed hands. It was followed by Square Pharma, Grameenphone, Golden Son and Titas Gas.
GSP Finance was the highest gainer of the day, posting a rise of 9.50 percent, while Bank Asia was the worst loser, slipping 4.74 percent.
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