Stocks fall for profit booking tendency of investors
The stock market experienced a fall today as investors went for booking profits and the major drops in prices were seen in the high-flying insurance stocks.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 30.58 points, or 0.50 per cent, to 6,036.
The DSE's turnover, an important indicator of the market, fell 22 per cent to Tk 2,062 crore.
Most of the insurance stocks plunged today, which have increased to a great extent in the last couple of weeks.
At the bourse, 159 companies' stocks rose, 192 fell and 21 remained the same.
Bangladesh Industrial Finance Company topped the gainers' list that rose 10 per cent followed by Paper Processing & Packaging Company, Bangladesh Monospool Paper Manufacturing and Shurwid Industries.
After returning to the main market from Over the Counter (OTC) market, Paper Processing, and Bangladesh Monospool Paper took place in the top gainers' list.
Beximco Ltd became the top traded stock with shares worth Tk 218 crore changing hands followed by Orion Pharmaceuticals, Fortune Shoes, Green Delta Insurance, and LankaBangla Finance.
Dhaka Insurance shed mostly that dropped 11.49 per cent followed by GBB Power, Global Insurance, Bangladesh General Insurance, and National Feed Mills.
The Chittagong Stock Exchange (CSE) also fell yesterday. The CASPI, the general index of the port city bourse, dropped 56 points, or 0.32 per cent, to 17,528.
Among 322 traded stocks, 144 advanced, 156 dropped and 22 remained unchanged.