Stocks break three-day gaining streak

The key index of the Dhaka Stock Exchange (DSE) snapped its three-day rising streak yesterday as most shares either declined or did not see any change. 

The DSEX edged down 8 points, or 0.14 per cent, to close at 6,281.

The DS30, the blue-chip index, dipped 0.19 per cent to 2,190 while the DSES, the Shariah-compliant index, went down 0.14 per cent to 1,366.

Turnover, a key indicator of the market, dropped 12.9 per cent to Tk 811 crore. Of the securities, 65 advanced, 104 declined and 192 did not show any price movement.

Risk-averse investors went for a quick profit-booking sell-offs of their holdings that appreciated recently, said International Leasing Securities in its market review

The benchmark index of the country's premier bourse plunged into the red after breaking a three-day gaining streak as risk-averse investors went for a quick profit-booking sell-offs of their holdings that appreciated recently, said International Leasing Securities Ltd in its daily market review.

It said though the market started the session on a positive note, it reverted to the red after the mid-session while observing heavy sell-offs.

Among the sectors, general insurance gained 0.7 per cent, jute advanced 0.5 per cent and mutual fund rose 0.2 per cent. The travel sector slipped 4.7 per cent, the IT sector was down 1.8 per cent, and the services sector shed 1.3 per cent.

The brokerage house said the jittery investors liquidated their investments in the travel, IT, services and paper sectors.

Of the individual companies, Bangladesh General Insurance Company made the highest gain with an increase of 9.96 per cent.

Trust Islami Life Insurance, CAPM IBBL Islamic Mutual Fund, Emerald Oil Industries, and Global Insurance Company were among the top gainers.

Miracle Industries was the biggest loser, shedding 6.6 per cent.

Sea Pearl Beach Resort & Spa, Chartered Life Insurance Company, Pragati Life Insurance, and Far Chemical Industries were also on the list of significant losers.

Bangladesh Shipping Corporation was the most-traded stock on the day with its issues worth Tk 58 crore transacting.

Rupali Life Insurance Company, Intraco Refueling Station, Chartered Life Insurance Company, and Orion Infusion witnessed significant turnover as well.

The Caspi, the all-share price index of the Chittagong Stock Exchange, lost 10 points, or 0.05 per cent, to close the day at 18,519.

Of the issues, 58 rose, 67 retreated and 94 did not see any price swing. However, the turnover of the port city bourse rose 33 per cent to Tk 16.98 crore.