Stocks back in the red as investors book profit

Shares on the Dhaka and Chittagong stock exchanges returned to red yesterday as risk-averse investors went for a quick profit-booking.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), lost 14 points, or 0.23 per cent, to end the session at 6,256.
The DS30, the blue-chip index, fell 0.24 per cent to 2,226 while the DSES, the shariah-compliant index, dropped 0.24 per cent to 1,368.
Turnover, a key indicator of the market, edged down 0.5 per cent to Tk 433 crore.
Of the securities, 23 advanced, 143 declined and 143 did not show any price movement.
The market started on an upbeat note but the momentum did not sustain after the first hour of the trading session.
The shares on the DSE slipped as the risk-averse investors went for a quick profit-booking and followed a cautious stance because of the speculation that the floor price of the remaining stocks would be lifted, said brokerage house International Leasing Securities Ltd.
In order to prevent a freefall of stocks, the floor price, the lowest price at which a share can be traded, was brought back on July 29. The floor was the average of the closing prices on July 28 of 2022 and the preceding four days.
On December 21, the stock market regulator lifted the artificial support measure for 169 companies out of a nearly 400 companies listed on the DSE.
Among the sectors, tannery was up 0.5 per cent.
The travel sector shed 2.2 per cent, the service sector was down 2.1 per cent, and the IT sector gave up 1.5 per cent.
Investors' activities were mainly focused on the IT sector, capturing 16.4 per cent of the day's turnover. The food sector and the pharmaceuticals sector accounted for 16.4 per cent and 11.9 per cent of the turnover, respectively.
Navana CNG made the highest gain with an increase of 8 per cent. Standard Insurance, BDCOM Online, Emerald Oil Industries, and Bengal Windsor Thermoplastics were also on the top gainers' list.
BD Thai Food & Beverage was the highest loser, shedding more than 3 per cent, despite reporting a 13 per cent year-on-year growth in profit in the October-December quarter of the current financial year.
Eastern Housing, City General Insurance, Aamra Networks, and Hwa Well Textiles (BD) were also among the significant losers.
Olympic Industries was the most-traded stock with its issues worth Tk 31 crore transacting.
Genex Infosys, Bangladesh Shipping Corporation, Gemini Sea Food, and Apex Footwear also registered significant turnover.
The Caspi, the all-share price index of the Chittagong Stock Exchange, went down 35 points, or 0.19 per cent, to close at 18,462.
Of the issues, 16 rose, 67 retreated and 44 did not see any price swing.
However, the turnover of the port city bourse rose 90 per cent to Tk 12.6 crore.
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