Stocks lose buoyant spirits

Indicators of twin bourses returned to the red yesterday as investors sold shares to pocket profits.
The benchmark General Index, the indicator of Dhaka Stock Exchange, fell 18.33 points, or 0.34 percent, to 5,333.42 at the 3pm close.
“The market opened with usual buoyancy taking cues from the previous day's gains,” LankaBangla Securities said in its daily market analysis.
Later, the first-hour bears took over the bulls, setting off profit-taking among investors.
The banking sector took the highest beating during the downward trend, although the sector booked modest gains during the uptrend.
As the Dhaka bourse slowly recovers from its bearish mood, investors are also beginning to increase their participation of trading, said Green Delta LR Holdings in its market report.
“Even though the prime index corrected few points, last two weeks' increased turnover of the premier bourse is an indication for the market recovery,” Green Delta said.
Activities slowed on the bourse: turnover was down 11.29 percent.
A total of 1.57 lakh trades were executed, generating a turnover of Tk 594 crore with 11.53 crore shares being traded on the DSE.
On the trading floor of DSE, there were 111 issues, which gained, and 137 losers. A total of 16 issues remained unchanged.
Among the major sectors, banks ended the day in a negative territory with 1.58 percent loss.
Non-bank financial institutions gained 2.03 percent as the Bangladesh Bank asked the NBFIs to increase their minimum paid-up capital to Tk 100 crore from Tk 50 crore by June 2012.
Grameenphone, which represent the telecoms sector, gained 1.58 percent with Tk 24.73 crore traded. It became the top traded share for a second session with 14.21 lakh shares.
Kay and Que was the biggest gainer of the day as it posted a 9.97 percent gain. EBL NRB Mutual Fund was the worst loser, plunging by 9.52 percent.
The Chittagong Stock Exchange declined yesterday. The Selective Categories Index went down 36.51 points, to end the day at 9,705.36.
Losers beat gainers 97 to 86 with 14 securities remaining unchanged on the port city bourse. More than 10.65 crore shares and mutual fund units traded with a value of Tk 50.34 crore.