Stocks down after two-day rise
The Dhaka stock index dropped yesterday just after touching its highest-ever levels in the preceding two days.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), fell 16 points, or 0.23 per cent, to 7,241.
Due to a profit-booking tendency among investors, the index suffered yesterday, said a stock broker.
People were optimistic, so it rose in the first hour of trading. However, some profit-seeking people became active at the end of the day, he said.
As people were ready to buy stocks, the index was saved from falling further, he added.
Turnover, an important indicator of the premier bourse of the country, rose 12 per cent to Tk 2,150 crore, which was Tk 1,910 crore a day earlier.
All the large-cap sectors posted negative performances.
Fuel and power experienced the highest loss of 0.58 per cent followed by telecommunication (0.45 per cent), banking (0.44 per cent) and non-bank financial institutions (0.41 per cent).
CAPM IBBL Islamic Mutual Fund topped the gainers' list, rising 9.7 per cent, followed by Active Fine Chemicals Limited, Pacific Denims Limited, Tosrifa Industries Limited and Delta Life Insurance Company Limited.
Desh Garments Limited shed the most, falling 6.30 per cent, followed by Eastern Insurance Company Limited, Monospool Paper Manufacturing Company Limited, The IBN SINA Pharmaceutical Industry Limited and Rupali Insurance Company Limited.
At the DSE, 125 stocks rose, 209 declined and 42 remained unchanged.
Stocks of Orion Pharma Limited were traded the most, worth Tk 133 crore, followed by Beximco Ltd, Maksons Spinning Mills Limited, Beximco Pharmaceuticals Limited and Delta Life Insurance Company Limited.
The prime bourse of the DSE endured a slight setback as it reverted back to a downward direction after two days of upsurge, said International Leasing Securities Limited in its daily market review.
An early hour upsurge in share prices was somewhat slowed down through the mid-session and brought the DSEX to a level 16.73 points lower than that in the last session, it said.
Investors' sell off was observed across the major sectors as a majority of investors exhibited a profit booking attitude, it added.
Chittagong Stock Exchange (CSE) also rose yesterday.
The CASPI, the general index of the port city bourse, edged up 82 points, or 0.39 per cent, to 21,157.
Among 320 stocks to undergo trade, 115 advanced, 171 fell and 34 remained unchanged.
Comments