Stocks fall on profit-taking

The benchmark General Index, DGEN, market tracking index of Dhaka Stock Exchange, slipped 28.06 points, or 0.66 percent, to 4,208.39 points.
“Share prices on the premier bourse fell, as the majority of investors booked profit from their previous purchase,” said IDLC Investments, a market analyst.
Besides, spontaneous participation was hindered further as investors remained cautious in terms of taking new positions just before the Eid break, which was apparent in downfall of turnover, it said.
The turnover lost 26.16 percent to Tk 278 crore, compared to the previous day.
“Most of the shares' prices were corrected, due to profit-booking by the investors,” said Green Delta LR Holdings, a stockbroker.
A total of 0.81 lakh trades were executed with 6.6 crore shares and mutual fund units changing hands on the Dhaka bourse.
Of the total 290 issues that traded: 48 advanced, 197 declined and 12 remained unchanged.
Among the major sectors, non-bank financial institutions gained 0.09 percent while all the others were red.
Banks lost 0.59 percent, followed by pharmaceuticals 0.55 percent, power 0.43 percent and telecommunications 0.32 percent.
Meghna Petroleum featured in the top traded stocks chart for the second day with 8.2 lakh shares worth Tk 18.34 crore changing hands.
Jamuna Oil and Bangladesh Submarine Cable Company were the next popular stocks of the day.
Kohinoor Chemical was the biggest gainer of the day, posting a 7.16 percent rise, while DBH First Mutual Fund lost 10.74 percent as the worst loser.
The benchmark General Index of Chittagong Stock Exchange finished the day at 8,092.11 points, after declining 60.47 points or 0.74 percent.
Losers beat gainers 149 to 28 with nine securities remaining unchanged on the port city bourse that traded 89.32 lakh shares and mutual fund units with Tk 31.22 crore in turnover.