Stocks slip back into the red
Stocks returned to the red yesterday, after investors went on a selling spree to take profit.
DGEN, the benchmark General Index of Dhaka Stock Exchange, finished the day at 4,357.17 points, after dropping 27.81 points or 0.63 percent. Turnover rose 24.38 percent to Tk 759 crore from the previous day.
“The government's strict stance to probe the Hall-Mark scam and expectation for amicable settlement with World Bank spurred investors' sentiment,” IDLC Investments said in its daily analysis.
In addition, healthy turnover helped to grow investors' confidence, it said.
“Amid such a scenario, DGEN gained by 81 points in the opening hour. However, it lost the early hour gain and closed in the negative territory.”
“Recently, DSE appears to be a lot more active than it was a couple of weeks ago,” said Green Delta LR Holdings, adding that experts believe higher participation of investors is the main reason for that.
A total of 1.6 lakh trades were executed, with 14.57 crore shares and mutual fund units changing hands on the Dhaka bourse.
Of the issues that traded on the DSE, 171 issues declined, 78 advanced and 21 remained unchanged.
Non-bank financial institutions gained 0.98 percent and power 0.47 percent which were the gainers of the day. Banks lost 1.44 percent, followed by telecom 1.32 percent and pharma 0.13 percent.
Titas Gas featured in the most traded stocks where 93.74 lakh shares worth Tk 83.62 crore changed hands.
GBB Power was the biggest gainer of the day, as it posted a 10 percent gain, while Grameen Mutual Fund was the worst loser, plunging by 5.72 percent.
The Selective Categories Index of Chittagong Stock Exchange closed the day at 8,408.01 points, after falling 61.06 points or 0.72 percent.
Losers beat gainers 147 to 43 with 11 issues remained unchanged on the port city bourse that traded 1.82 crore shares and mutual fund units worth Tk 80.55 crore in turnover.