Stocks post marginal losses amid selling pressure
The non-banking financial institutions, services, bank and insurance sectors witnessed 1.5-2.3% price correction
Share prices of the financial sectors such as banks, non-banking financial institutions (NBFI), and insurance reached a lucrative position thanks to the seven days of bull run in the stock exchanges. So, the investors have been selling those sectors' shares to make profits.
That is why, DSEX, the key index of the Dhaka Stock Exchange (DSE), fell by 1.02% or 60 points to settle at 5,813 on Thursday, said EBL Securities' daily market report.
The port city bourse Chittagong Stock Exchange's key index Caspi also lost 214 points to settle at 16,837.
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During the seven days of bull run, the DSEX rose 302 points and the market capital also increased by Tk20,543 crore to Tk4,93,074 crore.
The turnover, which is one of the major indicators of the DSE, fell by 21% to Tk1,652.78 crore on Thursday.
At the DSE, 234 companies' share prices declined, 68 advanced and 57 remained unchanged.
EBL Securities noted in the daily market commentary, "The large capitalised bank stocks plunged amid profit booking, followed by a consecutive rise in the financial scrips which took the price to a lucrative level. However, positive expectations from the budget of fiscal year 2021-22 are expected to keep investors cheerful towards the bourse."
On Thursday, investors received the highest return of 2.2% from the information technology (IT) sector ahead of quarterly profit growth optimism.
Meanwhile, the NBFI, services, bank and insurance sectors witnessed 1.5-2.3% price correction.
Provati Insurance Company Limited, Aramit Cement and AB Bank saw the highest price hike of above 9% and secured top position in the scrip-wise gainer table.
In the daily sector-wise turnover chart, the banking sector secured the highest position and contributed about 17.95% of the total DSE turnover followed by the miscellaneous and general insurance sectors.
In the scrip-wise turnover chart, Beximco Limited, a flagship company of the Beximco Group, secured the top position with 13% contribution, followed by Renata and NRBC Bank.
