Stocks fall on profit booking
The stock market fell today as investors booked profits from increased share prices of some big paid-up capital-based companies.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell 8 points, or 0.10 per cent, to 7,342.
Most of the stocks rose but investors sold some stocks of big companies to realise profits, which caused the index to drop, said a stock broker.
At the DSE, 218 stocks rose, 216 declined and 51 remained unchanged.
As big companies' impact on the index is higher so their fall dragged down the index, said the broker.
Such selling is normal in the stock market, he said, adding that the quality of the index improves when the it gets this kind of correction.
Turnover at the Dhaka bourse dropped 7 per cent to Tk 2,484 crore, down from Tk 2,681 crore a day earlier.
The stocks of LafargeHolcim Bangladesh traded mostly that worth Tk 236 crore followed by Orion Pharmaceuticals, Power Grid, Paramount Textiles, and Beximco Ltd.
Shyampur Sugar topped the gainers' list that rose 9.97 per cent followed by Indo-Bangla Pharmaceuticals, Robi Axiata, Shepherd Industries, and Sonar Bangla Insurance.
Meghna Life Insurance shed mostly in the market that fell 17.8 per cent followed by HR Textiles, Tamijuddin Textiles, Al-haj Textiles, and Shinepukur Ceramic.
The Chattogram Stock Exchange (CSE) also fell. The CASPI, the general index of the port city bourse, dropped 79 points, or 0.36 per cent, to 21,441.
Among 312 traded stocks, 157 advanced, 131 fell and 24 remained unchanged.
Comments