Stocks close lower on profit taking
Dhaka stocks fell yesterday after a three-day gain, driven mainly by sales of shares for profit taking.
Apart from the profit taking, according to market insiders, delay in taking decisions regarding increase in margin loan ratio has created confusion among investors that leave them inactive.
They suggested the Securities and Exchange Commission immediately decide on enhancing margin loan ratio to keep market confidence stable.
After a meeting with the merchant bankers on Tuesday, the stock market regulator announced that the final decision with regard to the rise in such loan ratio would be taken in the commission's next meeting.
The benchmark index of the Dhaka Stock Exchange, DSE General Index, fell 16.45 points, or 0.61 percent to 2,676.82 points. The All Share Price Index also declined 13.9 points, or 0.62 percent to 2,217.71 points.
Of the 236 traded scrips, 64 registered gains, 163 incurred losses and nine remained unchanged.
A total of 1,84,82,963 shares worth Tk 234.19 crore changed hands on the DSE. The market capitalisation however declined to Tk 96,552.87 crore.
Beximco Pharma topped the turnover leaders with 13,09,800 traded shares worth Tk 20.99 crore. The day's other turnover leaders were Beximco, ACI, Titas Gas, Grameen Mutual Fund One: Scheme 2, Uttara Bank, LankaBangla Finance, Desco, AIMS 1st Mutual Fund and Dutch-Bangla Bank.
Chittagong stocks also marked a fall yesterday. The CSE Selective Categories Index dropped 46.45 points, or 0.86 percent to 5,332.41 points, while the CSE All Share Price Index slid 66.9 points, or 0.8 percent to 8,207.43 points.
A total of 49,48,771 shares worth Tk 46.19 crore changed hands on the port city bourse. Of the 141 traded issues, 34 advanced, 105 declined and two remained unchanged.
Beximco topped the turnover leaders with 5,66,100 traded shares worth Tk 11.80 crore. The other turnover leaders were Beximco Pharma, Titas Gas, Grameen Mutual Fund One: Scheme 2, Beximco, AIMS 1st Mutual Fund, AB Bank, ICB 2nd NRB Mutual Fund, ACI, LankaBangla Finance, Bextex and Summit Power.
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