Stocks slip on profit-taking

Stocks edged down yesterday, as retail investors booked some profit from sell-offs after two days of gains.
Some big institutional investors however took position in securities at comparatively low prices.
“Turnover seems to be picking up slightly as the institutional investors are becoming more active,” Equity Partners Limited, an investment firm, said in an analysis.
“The retail investors were engaged in some profit-taking following market gains in the last couple of days," the EPL analysis added.
Yawer Sayeed, managing director of AIMS of Bangladesh, also echoed the views. The market acted rationally with profit-taking from the previous gains, he added.
“Most significant is that the turnover volume is increasing, which is a good sign,” he said amid hopes for quick market stabilisation.
The benchmark index of Dhaka Stock Exchange, DSE General Index, declined 4.13 points, or 0.16 percent, to 2563.69 points. The DSE All Share Price Index fell 3.42 points, or 0.16 percent, to 2132.56 points.
Major indices on the Chittagong Stock Exchange ended marginally lower with the CSE Selective Categories Index slipping 6.74 points, or 0.13 percent, to 5083.69 points.
Of the 268 traded securities on the premier bourse yesterday, 148 advanced and 112 declined with eight remaining unchanged. A total of 2,45,01,272 shares worth Tk 287.38 crore changed hands on the DSE.
Most banks and non-banking financial institutions, mutual funds and life insurers declined, while general insurance companies and the cement sector gained.
Fuel and power sector, pharmaceuticals, services and real estate and tannery shares ended mixed.
State-run Titas Gas continued to top the turnover leaders with 2,84,950 traded shares worth Tk 13.8 crore.
The day's other turnover leaders were Golden Son, Eastern Housing, Beximco Pharma, Aftab Automobiles, Keya Detergent, BSRM Steels, Atlas Bangladesh, Beximco and S Alam Cold Rolled Steel.
A total of 46,36,741 shares worth Tk 39.57 crore changed hands on the port city bourse. Of the 154 traded issues, 93 advanced, 58 declined and three remained unchanged.
Beximco Pharma topped the turnover leaders on the CSE with 1,32,700 traded shares worth Tk 2.11 crore. The other turnover leaders were Titas Gas, BSRM Steels, Beximco, Grameen Mutual Fund One: Scheme Two, AIMS 1st Mutual Fund, Eastern Housing, AB Bank, Shinepukur Ceramics and Summit Power.