DSEX edges down amid profit-booking
Equity indices at the Dhaka Stock Exchange (DSE) again ended mixed on Wednesday, with the key index DSEX closing in the red terrain as investors booked quick gains from the insurance stocks that rallied recently.
The broad-based index slipped by 0.4 points to 6,310.6, whereas the Shariah index DSES and blue-chip DS30 each inched up by 1.8 points from the previous trading session.
The market also witnessed a slight increase in investor participation on the day as the daily turnover grew by 5.4% to Tk855.5 crore.
Keep updated, follow The Business Standard's Google news channel
In its daily market commentary, EBL Securities wrote investors were active on both sides of the trading fence till mid-session, causing the core index to observe a mere flat movement.
"However, sellers dominated the trade by the end of the session as most investors preferred profit-booking in the hyped-up insurance stocks amid prevailing concerns regarding the strength of the market trend," the review added.
On the sectoral front, general insurance once again ruled the turnover board with the highest contribution of 35.9%. The food sector contributed 13.9%, and travel stocks 8.4% to the day's turnover.
Unlike the previous trading session, insurance stocks ended up on the losing side in terms of sectoral return on Wednesday. The general insurance sector faced the highest 1.5% price correction, followed by life insurance losing 1.3%.
On the other hand, the services sector saw the highest 1.1% price appreciation, followed by travel stocks gaining 1%.
Of all the DSE issues traded on Wednesday, 78 advanced, 77 declined, and 167 remained unchanged.
Aramit Cement was the day's top gainer with a 9.96% price appreciation, while Standard Insurance was the top loser with a 6.1% price correction.
