Profit taking pulls down stocks
On Sunday, the DSEX fell by 0.50% to close at 7,191 points
Indices of both the stock exchanges in the country edged down on Sunday due to selling pressure to book capital gain in major sectors where share prices have already reached a lucrative high.
On the first trading session of the week, DSEX – benchmark index of the Dhaka Stock Exchange (DSE) opened on a high note, but fell down after 30 minutes. After that, it tried to recover twice but eventually closed with a negative momentum at the end of the trading session.
EBL Securities said in the daily market review that the market is thriving and investors have much confidence in the market based on affirmative regulatory decisions. Therefore, the index is expected to reverse the natural profit-taking tendency any time soon.
On Sunday, the DSEX fell by 0.50% to close at 7,191 points. The blue-chip index DS30 fell down by 0.70% to close at 2,655 points, while the shariah index DSES gave up 0.65% to reach 1,566 points.
The port city bourse Chittagong Stock Exchange's (CSE) key index CASPI dropped by 158 points to close at 20,982 at the end of Sunday trading session.
Shares of 376 companies were traded on the DSE on the day, 106 of which advanced, 244 declined and 26 remained unchanged.
Besides, the turnover at the country's premier bourse declined by 6.33% to Tk2,033 crore compared to the previous trading day.
On Sunday, the index was mostly dragged by British American Tobacco, which was followed by Olympic Industries, Beacon Pharma and Lafarge Holcim Cement. Eastern bank was the top index puller on the day.
Beximco Ltd retained the top position in the turnover chart with 6.6% contribution to the total turnover at the DSE, followed by Lanka Bangla Finance and Beximco Pharma.
BD Autocar was the top gainer with 9.9% price hike, which was followed by Aziz Pipes and Aamra Technologies Ltd.
Besides, Popular Life First Mutual Fund lost the highest price of shares among all listed companies, which was followed by AB Bank First Mutual Fund, PHP Mutual Fund One and Trust Bank First Mutual Fund.