Stocks keep falling
The key index of the Dhaka Stock Exchange (DSE) plunged along with the turnover yesterday due to profit-booking and sharp declines of banking shares.
The DSEX, the benchmark index of the premier bourse of the country, fell 63 points, or 0.89 per cent, to 7,022. The market also declined a day ago. The index fell thanks to the profit-booking tendency among investors and a huge selling pressure, said a stock broker.
Turnover, an important indicator of the market, decreased 31 per cent to Tk 1,225 crore from the previous day's Tk 1,786 crore.
"The premier bourse passed another down session as the shaky investors continued their selling binge in the major sectors' stocks," said International Leasing Securities in its daily market review.
The market started with a positive note but could not sustain it after the second trading hour and ended the day in the red.
The banking industry contributed 43.8 per cent to the turnover, but the return was the lowest among all the sectors as some investors cashed gains.
Top 10 traded stocks accounted for 42.8 per cent of the total trade. On the DSE, 104 stocks advanced, 216 dropped, and 39 remained unchanged.
Sena Kalyan Insurance topped the gainers' list rising 10 per cent followed by Acme Pesticides, Kattali Textile, Aman Feed, and One Bank.
Kohinoor Chemical shed the most, dropping 13 per cent, followed by Regent Textile, Aramit Cement, Bangladesh Industrial Finance Company, and Aamra Technologies.
Stocks of One Bank were the most-traded issue with its shares worth Tk 143 crore changing hands. IFIC Bank, NRB Commercial Bank, First Security Islami Bank, and Fortune Shoes also saw heavy trading.
Shares on the Chittagong Stock Exchange also dropped.
The CASPI, the main index of the CSE, fell 160 points, or 0.77 per cent, to 20,559. Of the 287 traded stocks, 99 rose, 161 fell, and 27 were unchanged.
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