Profit booking drags down stocks in last hour

Investors' profit-booking pressure dragged down the indices during the last 90 minutes of Tuesday's trading session.

But in the first trading hours, the key index DSEX of the Dhaka Stock Exchange (DSE) gained 42 points riding on the investors' buying appetite.

EBL Securities said in its daily market commentary, investors' profit-booking in the late session pushed the core index to settle flat after the stocks opened higher at the beginning of the session.

The rising Covid-19 cases prompted many investors to sell off stocks to realise capital gains, it added.

Despite the selloff pressure, DSEX stayed afloat in green terrain and closed at 7,055 points.

The port city bourse Chittagong Stock Exchange (CSE) broad index CASPI also gained 8 points to close at 20,658.

Meanwhile, investors' participation in the DSE logged a considerable rise which helped the daily turnover increase by 2% to Tk1,712.87 crore.

Besides, despite the selling spree, it was a big day for the life insurance and textile sectors, where six companies secured berths on the top ten gainer list at the DSE.

Desh Garments topped the gainer list, while Anlima Yarn was the worst share at the DSE.

Miscellaneous, textile and engineering sectors made the largest contribution to the daily turnover.

Most of the sectors displayed mixed performance, out of which life insurance, textile and services gained the maximum 1.7%, 1.6% and 1.2%, respectively.

Ceramic, miscellaneous and paper sectors suffered a moderate correction on Tuesday.

Out of the 383 issues traded on the DSE, 184 advanced, 146 declined, and 53 remained unchanged.